Indiana Code 21-35-3-13. Bonds and interest on bonds secured by pledge or mortgage
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Sec. 13. The bonds and the interest on the bonds may be secured by pledge or mortgage of:
(2) the net income from the property;
(1) any property, real or personal, used or acquired or to be acquired and used for the property and the improvements made or to be made on the property;
Terms Used In Indiana Code 21-35-3-13
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) the property and the net income from the property; or
(4) any unobligated net income of any property financed under this chapter;
as the board of trustees may determine.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(a) part.]
As added by P.L.2-2007, SEC.276.