Sec. 3. A note or notes issued or renewed under this chapter must:
(1) mature not more than five (5) years from the date of issuance of the original note; and
(2) pledge for the payment of the principal and interest the proceeds of the grant or bonds.
[Pre-1996 Recodification Citation: 13-9.5-9-7(c).]
As added by P.L.1-1996, SEC.11.