Indiana Code 21-35-3-14. Liens

Sec. 14. The lien of the pledge or mortgage, to the extent of the lien:

(1) as determined and provided by the board of trustees; and

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Lien: A claim against real or personal property in satisfaction of a debt.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

(2) as authorized under this chapter;

is a first and primary lien for the payment of the bonds and the interest on the bonds.

[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(b).]

As added by P.L.2-2007, SEC.276.