The lien of the pledge or mortgage, to the extent of the lien:(1) as determined and provided by the board of trustees; and(2) as authorized under this chapter;is a first and primary lien for the payment of the bonds and the interest on the bonds.[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(b).]As added by P.L.2-2007, SEC.276.
Indiana Legal Code