Indiana Code 8-14.5-7-9. Indebtedness limited to authority
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Sec. 9. Grant anticipation revenue bonds or notes:
(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and
(1) constitute the corporate obligations of the authority;
Terms Used In Indiana Code 8-14.5-7-9
- authority: refers to the Indiana finance authority or its successor. See Indiana Code 8-14.5-7-1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(3) are payable solely as to both principal and interest from:
(A) the revenues from a lease to the department, if any;
(B) proceeds of bonds or notes, if any; or
(C) investment earnings on proceeds of bonds or notes, if any.
As added by P.L.246-2005, SEC.83.