Actions of general assembly

Sec. 2. (a) Except: (1) for grant anticipation notes; and (2) as provided in this chapter; no bonds shall be issued for a project by the board of trustees of a state educational institution under this article unless the general assembly has taken the actions described in subsection (b). (b) As a condition of issuing bonds, the general assembly must have: (1) specifically approved the project to be financed through the issuance and sale of these bonds; and (2) provided the amount of bonds that may be issued to fund the costs of acquiring, constructing, remodeling, renovating, furnishing, or equipping the specific project approved. [Pre-2007 Higher Education Recodification Citation: 20-12-6-17(a).] As added by P.L.2-2007, SEC.275.