Skip to main content
Find a Lawyer

Indiana Code Title 21. Higher Education § 21-32-3.5-3

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 3. (a) Sinking funds that are created with respect to bonds issued under this chapter to fund retirement liabilities shall be held as private funds held in trust by the board of trustees, and shall not be deemed to be property of the state.

(b) Sinking funds and debt service reserves may be invested in accordance with the provisions of IC 21-29. The principal of, accretions to, or earnings derived from sinking funds and debt service reserve funds may be used:

(1) to pay principal of and interest on bonds issued under this chapter to fund retirement liabilities; and

(2) to pay costs of administration of such sinking funds and debt service reserve funds.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Indiana Code Title 21. Higher Education § 21-32-3.5-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-32-3-5-3/

Read this complete Indiana Code Title 21. Higher Education § 21-32-3.5-3 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Search all Indiana Codes

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

    More Options
    Copied to clipboard