Sec. 2. (a) Except:
(1) for grant anticipation notes; and
(2) as provided in this chapter;
no bonds shall be issued for a project by the board of trustees of a state educational institution under this article unless the general assembly has taken the actions described in subsection (b).
(b) As a condition of issuing bonds, the general assembly must have:
(1) specifically approved the project to be financed through the issuance and sale of these bonds; and
(2) provided the amount of bonds that may be issued to fund the costs of acquiring, constructing, remodeling, renovating, furnishing, or equipping the specific project approved.
[Pre-2007 Higher Education Recodification Citation: 20-12-6-17(a).]
As added by P.L.2-2007, SEC.275.
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