Ind. Code § 13-21-11-4

Current through P.L. 171-2024

Section 13-21-11-4 - Application of proceeds

The board shall apply the proceeds of a note issued under this chapter or IC 13-9.5-9-7 (before its repeal) to the cost of the facility for which the grant is to be made or bonds issued, although a purchaser of any obligations is not liable for the proper application of the proceeds.

IC 13-21-11-4

Pre-1996 Recodification Citation: 13-9.5-9-7(d).

As added by P.L. 1-1996, SEC.11.