Sec. 38. (a) Notwithstanding any other provision of this chapter, a district may do the following: (1) Borrow money from the state in accordance with other statutes. (2) Evidence the indebtedness upon terms and conditions that are provided in the statutes or that the state requires. (b) A district may: (1) pay and discharge the indebtedness from the proceeds of bonds, notes, or other evidences of indebtedness issued under: (A) this chapter; or (B) IC 13-3-4 (before its repeal); or (2) refund the indebtedness to the state; in accordance with this chapter. [Pre-1995 Recodification Citation: 13-3-4-15.]
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