Grant anticipation revenue bonds or notes:(1) constitute the corporate obligations of the authority;(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and(3) are payable solely as to both principal and interest from:(A) the revenues from a lease to the department, if any;(B) proceeds of bonds or notes, if any; or(C) investment earnings on proceeds of bonds or notes, if any.As added by P.L.246-2005, SEC.83.
Indiana Legal Code