Sec. 20. (a) Except as provided in this section, contracts to acquire land for or to construct, purchase, lease, sublease, or otherwise acquire, or to engage architectural or engineering services in connection with any buildings, structures, equipment, and improvements to be financed in whole or in part by the issuance of bonds under this chapter may not be made by the board of trustees of a state educational institution without the specific approval of the budget agency and the governor.
(b) This section does not apply to any contract relating to a facility, the cost of which does not exceed fifty thousand dollars ($50,000).
[Pre-2007 Higher Education Recodification Citation: 20-12-7-6.]
As added by P.L.2-2007, SEC.276.
Structure Indiana Code
Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements
21-35-2-1. Applicability of Chapter
21-35-2-2. Applicable Properties
21-35-2-3. Supplemental Effect of Chapter
21-35-2-4. Prior Contracts Validated
21-35-2-5. Effect of Acts 1977, p.l. 250
21-35-2-7. Authority to Acquire Real and Personal Property
21-35-2-8. Authority to Use Real or Personal Property Acquired
21-35-2-9. Title to Acquired Property
21-35-2-10. Acquisition of Real Property; Approval of Governor; Conveyance and Execution of Deed
21-35-2-11. Issuance and Sale of Bonds
21-35-2-12. Bonds and Interest on Bonds Secured by Pledges or Mortgages
21-35-2-14. Maximum Amount of Bonds
21-35-2-15. Determination of Denomination and Maturation of Bonds; Rates of Interest
21-35-2-16. Bonds and Pledges or Mortgages Made in the Name of the State Educational Institution
21-35-2-17. Liability of State or Institutions for Indebtedness Limited
21-35-2-20. Contracts; Approval of the Budget Agency and Governor