Sec. 9. If the net income of a project in any year is not sufficient to meet the total amount of the principal and interest on the bonds that fall due in the year, the board of trustees may pay the balance of the principal and interest falling due in the year out of any other revenues and funds of Indiana State University that are available to pay the principal and interest.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
Structure Indiana Code
Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements
Chapter 4. Indiana State University; Dormitories
21-35-4-1. Applicability of Chapter
21-35-4-2. Application of Chapter; Student Housing
21-35-4-3. Issuance of Bonds for the Erection and Construction of Dormitories
21-35-4-4. Bonds for a Project; Maximum Amount
21-35-4-5. Estimations and Findings of Costs
21-35-4-6. Bonds for a Project; Denomination, Maturation, and Interest Rates
21-35-4-7. Bonds for a Project; Sale
21-35-4-8. Bonds for a Project; Principal and Interest
21-35-4-9. Net Income of Project; Principal and Interest on Bond