Skip to main content
Find a Lawyer

U.S. Federal and State Cases, Codes, and Articles

Select a tab to search United States Cases, Codes, or Articles

Search for cases

Indicates required field

Search by keyword or citation

Indicates required field

Search blogs, article pages, and cases and codes

Indicates required field

Indiana Code Title 21. Higher Education § 21-35-6-5

Current as of June 08, 2021 | Updated by FindLaw Staff

Sec. 5. (a) The lien of a pledge or mortgage under section 4 of this chapter, as determined and provided by the board of trustees and as authorized by this chapter, shall be a first and primary lien for the payment of the bonds and the interest on the bonds.  In authorizing the issuance of the revenue bonds for any particular property or properties, the board of trustees may:

(1) limit the amount of bonds that may be issued as a first lien and charge against the property or properties and the net income from the properties;  or

(2) subsequently authorize the issuance periodically of additional obligations secured by the same lien:

(A) to provide funds for the completion of the property or properties on account of which the original bonds were issued;

(B) for any other purpose for which Vincennes University has authority to issue bonds;  or

(C) for purposes of both clauses (A) and (B).

(b) Additional bonds:

(1) shall be issued on the terms and conditions that the board of trustees determines;  and

(2) may be secured equally and ratably, without preference, priority, or distinction, with the original issue of bonds or may be made junior to the original bonds.

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 § 21-35-6-5 - last updated June 08, 2021 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-35-6-5.html

Read this complete Indiana Code Title 21. Higher Education § 21-35-6-5 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?

Response sent, thank you

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