§306-16 Limitation of authority. Notwithstanding any other provision to the contrary, nothing in this chapter shall be construed to authorize the board of regents to incur any indebtedness contrary to Article VII, sections 12 and 13, of the Constitution of the State or to incur any indebtedness which would not qualify for exclusion from the total indebtedness of the State under section 13(2), Article VII. [L Sp 1959 1st, c 20, §2(o); Supp, §44-76; HRS §306-16; am L 1971, c 141, §1(o); am L 1986, c 339, §38]