Sec. 7. (a) This section and any other provisions of this chapter related to implementing this section apply only to the following state educational institutions:
(1) Indiana University.
(2) Purdue University.
(b) The board of trustees of Indiana University and the board of trustees of Purdue University may, if the boards of trustees of the state educational institutions find that a necessity exists, erect, construct, reconstruct, extend, remodel, improve, complete, equip, furnish, operate, control, and manage research facilities, if revenue from state, federal, local, or private gifts, grants, contractual payments, or reimbursements is available in an amount that is reasonably expected to at least equal the annual debt service requirements of the bonds and the costs to operate the research facility for each fiscal year that the bonds are outstanding at or in connection with any of the following campuses of Indiana University or Purdue University:
(1) Purdue University-West Lafayette Campus.
(2) Indiana University-Purdue University at Indianapolis (IUPUI).
(3) Indiana University-Bloomington Campus.
(c) Student fees and money appropriated by the general assembly may not be used to pay the debt service requirements or the maintenance expenses of a research facility.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(b) part.]
As added by P.L.2-2007, SEC.276.
Structure Indiana Code
Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements
Chapter 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds
21-35-3-1. Applicability of Chapter
21-35-3-2. Applicable Properties
21-35-3-3. Supplemental Effect of Chapter
21-35-3-4. Prior Contracts and Bonds Unaffected; Limited Applicability of Chapter
21-35-3-5. Effect of Acts 1977 p.l.250
21-35-3-8. Authority to Acquire Personal and Real Property
21-35-3-9. Authority to Improve and Use Acquired Property
21-35-3-10. Title to Acquired Property
21-35-3-11. Acquisition of Real Property; Approval of Governor; Conveyance and Execution of Deed
21-35-3-12. Issuance and Sale of Bonds
21-35-3-13. Bonds and Interest on Bonds Secured by Pledge or Mortgage
21-35-3-15. Maximum Bond Amounts
21-35-3-16. Determination of Denominations and Maturation of Bonds; Rates of Interest
21-35-3-17. Bonds and Pledges or Mortgages Made in the Name of the State Educational Institution
21-35-3-18. Limitation on State or Institutional Liability for Indebtedness
21-35-3-21. Contracts; Approval of the Budget Agency and Governor
21-35-3-23. Maximum Aggregate Principal Amount of Bonds Each Biennium