Issuance of bonds without approval of the general assembly; maximum amount

Sec. 6. Bonds may be issued by the board of trustees of a state educational institution without the approval of the general assembly if, after the issuance, the total amount of outstanding bonds issued by the board of trustees of a state educational institution without approval will not exceed two million dollars ($2,000,000). However, the bonds must be approved as provided in section 1 of this chapter. [Pre-2007 Higher Education Recodification Citation: 20-12-6-17(e).] As added by P.L.2-2007, SEC.275.