Constitutionally restricted bonds or debts not authorized

Sec. 23. This chapter does not authorize the board to do anything that would result in the creation of an instrument that constitutes a bond or debt within the meaning of the constitutional restriction relating to: (1) the creation or incurring of a debt or indebtedness; or (2) the issuance of an instrument constituting a bond or debt. [Pre-1995 Recodification Citation: 13-3-4-8(e) part.] As added by P.L.1-1995, SEC.26.