Indiana Code
Chapter 9. Issuance of Debt by Authority
8-15.7-9-4. Bonds or Notes Not a Debt of the State

Sec. 4. The bonds or notes issued under this chapter:
(1) constitute the corporate obligations of the authority;
(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and
(3) are payable solely as to both principal and interest from:
(A) the revenues from a lease to the department, if any;
(B) proceeds of bonds or notes, if any;
(C) investment earnings on proceeds of bonds or notes; or
(D) other funds available to the authority for such purpose.
As added by P.L.47-2006, SEC.40.