CHAPTER 14. STATE INSTITUTIONS.BORROWING MONEY AND EXPENDITURES WITHOUT APPROPRIATION PROHIBITED AND PENALIZED
IC 4-10-14
Chapter 14. State Institutions.Borrowing Money and
Expenditures Without Appropriation Prohibited and Penalized
IC 4-10-14-1
Loans; expenditures for improvements; authorization by act of
general assembly
Sec. 1. It shall be unlawful for the board of trustees of any
benevolent, scientific, or educational institution, or for any
correctional facility of the state, to borrow money upon the credit of
the state, or to contract any indebtedness on the credit of the state, or
to make expenditures for improvements for said institutions or
correctional facilities in any way, unless the said loans or
expenditure of money are first authorized by an act of the general
assembly for such purposes.
(Formerly: Acts 1875, c.4, s.1.) As amended by P.L.12-1996, SEC.1.
IC 4-10-14-2
Trustees; violations
Sec. 2. A trustee who violates section 1 of this chapter commits
a Class C infraction and and forfeits his office.
(Formerly: Acts 1875, c.4, s.2.) As amended by Acts 1978, P.L.2,
SEC.404.