Sec. 6. (a) Notwithstanding any other law, an issuer may use proceeds of its obligations to pay the reasonable cost of issuance of the obligations or to fund reasonably required debt service reserves to secure the payment of the obligations.

     (b) Notwithstanding any other law, an issuer may use proceeds of the issuer’s obligations to pay interest on the obligations for:

(1) a period not to exceed two (2) years from the date of issuance of the obligations; or

(2) any longer period that is permitted by any other statute.

     (c) Notwithstanding any other law, an issuer may reimburse itself for preliminary costs incurred in financing any project or purpose from proceeds of the obligations when issued.

As added by P.L.37-1988, SEC.6. Amended by P.L.35-1990, SEC.3; P.L.24-1995, SEC.22.