Sec. 24. If an educational facility is financed and mortgaged under sections 22 and 23 of this chapter:
(1) the title to the facility must remain in the nonprofit college or university owning the facility, subject to the lien of the mortgage securing the promissory notes then being purchased; and
(2) there may not be a lease of the facility between the authority and the institution.
As added by P.L.189-2018, SEC.25.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.2. Indiana Finance Authority
Chapter 8. Educational Facility Financing
5-1.2-8-1. Purposes of This Chapter
5-1.2-8-4. Powers; Educational Facility Projects
5-1.2-8-13. Payment of Expenses
5-1.2-8-14. Conveyance of Title
5-1.2-8-15. Income From Investments or Reserves or Sinking Funds; Allocation and Use
5-1.2-8-18. Bonds; Use of Proceeds
5-1.2-8-20. Bonds; Authority to Refund
5-1.2-8-21. Competitive Bidding Requirement