(2) Mortgage its property to secure the repayment of the loan.(3) Issue bonds for not more than two hundred thousand dollars ($200,000).(b) Bonds issued under subsection (a) must:(1) not exceed a duration of twenty (20) years;(2) have interest bearing coupons affixed; and(3) be secured by mortgage on the property of the corporation.[Pre-2008 Recodification Citation: 15-1-2-11.]As added by P.L.2-2008, SEC.5.
Indiana Legal Code