Sec. 845.105. INDEBTEDNESS; PAYMENT. (a) The board of trustees may: (1) incur indebtedness; (2) on the credit of the retirement system, borrow money to pay expenses incident to the system's operation; (3) renew, extend, or refund its indebtedness; or (4) issue and sell negotiable promissory notes or negotiable bonds of the system. (b) A note or bond issued under this section must expressly state that the note or bond is not an obligation of this state.
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