Proceeds of sale of bonds

Ind. Code § 21-35-4-11
in effect
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Sec. 11. The proceeds of sale of any bonds for a project shall be applied solely to: (1) the building of the project; and (2) the payment of principal and interest of the bonds if a surplus should exist after completion and full payment for the erection and construction of the project. [Pre-2007 Higher Education Recodification Citation: 20-12-53-1(c).] As added by P.L.2-2007, SEC.276.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/21Fetched: 10/17/2026

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