Sec. 4. Bonds issued under this chapter do not constitute a debt, liability, or obligation of the state of Indiana or a pledge of the credit of the state of Indiana, but shall be payable solely from the sources specified in this chapter. No moral obligation of the state of Indiana shall exist to appropriate funds to pay principal of or interest on any bond issued under this chapter.
As added by P.L.213-2015, SEC.241.
Structure Indiana Code
Article 32. State Educational Institutions: Bonds and Borrowing
Chapter 3.5. Retirement Liability Bonds
21-32-3.5-1. "Retirement Liabilities"
21-32-3.5-2. Authority to Issue Bonds; Debt Service; Sources of Revenue
21-32-3.5-3. Sinking Funds Not Property of State; Investment
21-32-3.5-4. Bonds Not Debt, Pledge of Credit, or Moral Obligation of State