Indiana Code 14-13-1-31. Revenue bonds; not debt of state or subdivision; payable solely from money pledged

Sec. 31. (a) Revenue bonds issued under this chapter or under IC 14-6-29 (before its repeal) do not constitute any of the following:

(1) A debt of the state or of a political subdivision of the state.

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(2) A pledge of the faith and credit of the state or a political subdivision of the state.

(b) The bonds are payable solely from the revenues pledged for their payment as authorized in this chapter or IC 14-6-29 (before its repeal).

[Pre-1995 Recodification Citation: 14-6-29-10(d).]

As added by P.L.1-1995, SEC.6.