Indiana Code 21-35-4-9. Net income of project; principal and interest on bond
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Terms Used In Indiana Code 21-35-4-9
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
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.