reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-22. Issuance of Bonds; Approval of the Budget Agency, Budget Committee, and Governor; Recommendations; Refunds

Sec. 22. (a) Bonds may not be issued by a state educational institution under this chapter without the specific approval of:
(1) the budget agency, if:
(A) the bonds are issued for the refunding or advance refunding of any outstanding bonds approved under this chapter; and
(B) the board of trustees of the issuing state educational institution makes the findings described in subsection (b); or
(2) the budget committee, the budget agency, and the governor, if subdivision (1) does not apply.
The budget agency may request and consider the recommendation of the staff of the Indiana finance authority with respect to the approval of a bond issue under this section.
(b) The board of trustees of a state educational institution may provide for refunding or advance refunding of any outstanding bonds under subsection (a)(1) whenever the board of trustees of the state educational institution finds that the refunding or advance refunding will benefit the state educational institution because:
(1) a net savings to the state educational institution will be effected; or
(2) the net present value of principal and interest payments on the bonds is less than the net present value of the principal and interest payments on the outstanding bonds to be refunded.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-7.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-23. Maximum Aggregate Principal Amount of Bonds Each Biennium

Sec. 23. The general assembly may establish each biennium in the appropriation act the maximum aggregate principal amount of bonds that any one (1) or more state educational institution may issue during the ensuing biennium under this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-8.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-24. Actions to Contest Validity of Bonds

Sec. 24. An action to contest the validity of any bonds issued under this chapter may not be brought after the fifteenth day following:
(1) the first publication of notice of the sale or intent to sell the bonds under IC 21-32-3 if the bonds are sold at public sale; or
(2) the publication one (1) time in newspapers described in IC 21-32-3-3 of notice of the execution and delivery of the contract of sale for the bonds if the bonds are sold at negotiated sale.
The state educational institution shall publish notice under subdivision (2) if the state educational institution sells bonds at negotiated sales no later than thirty (30) days after the execution of the contract of sale for the bonds.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-9.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-1. Applicability of Chapter

Sec. 1. This chapter applies to Indiana State University.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-2. Application of Chapter; Student Housing

Sec. 2. This chapter applies to a project for a dormitory for the housing of students.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-3. Issuance of Bonds for the Erection and Construction of Dormitories

Sec. 3. Whenever the board of trustees of Indiana State University finds that:
(1) a necessity exists for the building of a dormitory for the housing of students; and
(2) sufficient funds for the erection and construction of the dormitory for the housing of students will not be available out of the revenues and funds of Indiana State University in the year in which the necessity exists;
the board of trustees may issue and sell the bonds of the board of trustees.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-4. Bonds for a Project; Maximum Amount

Sec. 4. Bonds for a project:
(1) may be in any amount that the board of trustees finds is not available out of the revenues and funds of Indiana State University for the year; and
(2) may not exceed the total estimated cost of the erection and construction of the dormitory.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-5. Estimations and Findings of Costs

Sec. 5. The board of trustees shall first estimate and make a finding specifying the costs of erecting and constructing the project before issuing bonds.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-6. Bonds for a Project; Denomination, Maturation, and Interest Rates

Sec. 6. Bonds for a project:
(1) may be issued by the board of trustees in the denomination and with the maturities; and
(2) must bear the rate of interest, payable semiannually;
as the board of trustees may fix and determine. However, the bonds may not be sold for less than par.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-7. Bonds for a Project; Sale

Sec. 7. Bonds for a project may be sold either privately, or at public letting, as the board of trustees may determine.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-8. Bonds for a Project; Principal and Interest

Sec. 8. The principal and interest of the bonds for a project, when sold, are a primary, fixed charge against the net income of the project being constructed and erected. The net income must be applied by the board of trustees in payment of the principal and interest of the bonds as the principal and interest become due until full and final payment of all of the bonds and interest is made.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008, SEC.141.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-9. Net Income of Project; Principal and Interest on Bond

Sec. 9. If the net income of a project in any year is not sufficient to meet the total amount of the principal and interest on the bonds that fall due in the year, the board of trustees may pay the balance of the principal and interest falling due in the year out of any other revenues and funds of Indiana State University that are available to pay the principal and interest.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(a) part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-10. Bonds for a Project; Criteria

Sec. 10. Bonds for a project shall be:
(1) executed by the name;
(2) signed by the president and treasurer; and
(3) attested by the secretary;
of the board of trustees.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(b).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 4. Indiana State University; Dormitories › 21-35-4-11. Proceeds of Sale of Bonds

Sec. 11. The proceeds of sale of any bonds for a project shall be applied solely to:
(1) the building of the project; and
(2) the payment of principal and interest of the bonds if a surplus should exist after completion and full payment for the erection and construction of the project.
[Pre-2007 Higher Education Recodification Citation: 20-12-53-1(c).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-1. Applicability of Chapter

Sec. 1. This chapter applies to the following state educational institutions:
(1) Ball State University.
(2) Indiana University.
(3) Indiana State University.
(4) Purdue University.
(5) University of Southern Indiana.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-2 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-2. Applicable Property

Sec. 2. This chapter applies to the following property:
(1) Property described in IC 21-35-2.
(2) Property described in IC 21-35-3.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-1(3).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-3. Construction of Chapter

Sec. 3. This chapter may not be construed to repeal, modify, or amend any law of Indiana in force on March 9, 1959.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-7 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-4. Supplemental Effect of Chapter

Sec. 4. This chapter may be construed as supplemental to IC 21-35-2 and IC 21-35-3.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-7 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-5. Issuance of Revenue Obligations; Use

Sec. 5. The board of trustees of a state educational institution may issue revenue obligations under IC 21-35-2 or IC 21-35-3 for any one (1) or more of the following:
(1) For any purpose or purposes for which IC 21-35-2 or IC 21-35-3 authorizes the borrowing of money.
(2) To reimburse the state educational institution for funds expended or advanced for interim financing of the cost of any revenue producing property before the issuance of revenue obligations on account of revenue producing property.
(3) Subject to applicable covenants and agreements with the holders of outstanding obligations, to fund or refund revenue obligations.
If the board of trustees determines that it would be advantageous to the state educational institution to exchange funding or refunding obligations for the revenue obligations being funded or refunded, the exchange may be made, if the actual interest cost is not increased.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-2 part.]
As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008, SEC.142.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-6. Security of Revenue Obligations

Sec. 6. Revenue obligations:
(1) must be secured in the manner provided in IC 21-35-2 and IC 21-35-3; and
(2) in addition, may be secured by the pledge or mortgage of the unobligated net revenues of any one (1) or more other revenue producing properties of the issuing state educational institution and by any other available income or funds.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-3 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-7. Board; Power to Limit Amount of Obligations or Issue Additional Obligations

Sec. 7. In authorizing the issuance of revenue obligations for any particular property or properties, the board of trustees may:
(1) limit the amount of the obligations that may be issued as a first lien and charge against the property or properties and the net income from the property or properties; or
(2) authorize the issuance periodically thereafter of additional obligations secured by the same lien to provide funds:
(A) for the completion of the property or properties on account of which the original obligations were issued;
(B) to pay the cost of additional revenue producing properties under IC 21-35-2 or IC 21-35-3; or
(C) for the purposes described in clauses (A) and (B).
The additional obligations shall be issued on the terms and conditions as the board may determine, and may be secured equally and ratably, without preference, priority, or distinction, with the original issue of obligations or may be made junior to the original issue of bonds.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-3 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-8. Revenue Obligations Authorized by Resolution; Terms; Conditions

Sec. 8. Revenue obligations must be authorized by resolution adopted by the board of trustees. The terms, conditions, and form of the revenue obligations must be set out in the resolution or in a form of trust indenture between the state educational institution and a designated corporate trustee, or both.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-4 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-9. Revenue Obligations; Contents

Sec. 9. The resolution or the indenture for revenue obligations may include:
(1) provisions for protecting and enforcing the rights and remedies of the holders of the revenue obligations being issued;
(2) covenants setting forth the duties of the state educational institution and its officers in relation to:
(A) the:
(i) acquisition, construction, operation, and maintenance of; and
(ii) insurance to be carried on;
the property or properties on account of which the revenue obligations are being issued; and
(B) the maintenance of fees and charges to be collected on account of the properties;
(3) provisions for:
(A) the custody, safeguarding, and application of all money;
(B) the rights and remedies of the trustee and the holders of the obligations being issued; and
(C) the issuance of additional parity obligations or junior lien obligations secured by pledge or mortgage of the revenues and property described in the resolution or indenture; and
(4) the other terms, conditions, limitations, and covenants that the board of trustees determines proper.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-4 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-10. Revenue Obligations and Interest Coupons

Sec. 10. Revenue obligations and any interest coupons appertaining to revenue obligations are negotiable instruments within the meaning and for all purposes under the laws of Indiana, subject only to the provisions of the obligations for registration.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-4 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-11. Authority to Furnish Heat, Light, Power, and Other Like Services With or Without Charge

Sec. 11. In connection with the issuance of revenue obligations, a board of trustees of a state educational institution may covenant to and furnish or supply heat, light, power, and other like services to any building, structure, or improvement with or without charge so long as any of the revenue obligations are outstanding.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-5.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 5. Revenue Producing Property; Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations › 21-35-5-12. Revenue Obligations; Eligible Investments

Sec. 12. Any revenue obligations issued under IC 21-35-2 or IC 21-35-3 are eligible investments for the funds of any kind or character of every financial institution, insurance company, or private trust. The revenue obligations are eligible for deposit by any financial institution, insurance company, or trustee under any law of Indiana providing for the deposit of securities or funds.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-6.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-1. Applicability of Chapter

Sec. 1. This chapter applies to Vincennes University.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-2. Applicable Property

Sec. 2. This chapter applies to all property acquired or improved for Vincennes University.
[2007 Higher Education Recodification Citation: New.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-3. Issuance and Sale of Bonds

Sec. 3. For the purpose of:
(1) raising funds for improving property;
(2) acquiring property;
(3) the interim financing of the cost of any such improvement or acquisition;
(4) the reimbursing of the trustees for funds expended or advanced for interim financing of the cost of any such improvement or acquisition, or, subject to existing covenants and agreements with the holders of outstanding bonds, for funding or refunding bonds issued under this chapter; or
(5) for any one (1) or more of the activities described in subdivisions (1) through (4);
the board of trustees may issue and sell revenue bonds.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-15(a).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-4. Security of Bonds

Sec. 4. The revenue bonds and the interest on revenue bonds of Vincennes University may be secured in any one (1) or more of the following ways, as the board of trustees may determine:
(1) By pledge or mortgage of any property, real or personal, used or acquired or to be acquired and used for the purposes of Vincennes University and the improvements made or to be made on the property.
(2) By pledge or mortgage of the net income from the property.
(3) By the pledge or mortgage of the unobligated net revenues of any one (1) or more other properties of the board of trustees.
(4) In the case of revenue bonds issued under this chapter for interim financing of any property, by pledge of the funds derived from the sale of the bonds issued and sold under this chapter for the permanent financing of property.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-15(b).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-5. Liens

Sec. 5. (a) The lien of a pledge or mortgage under section 4 of this chapter, as determined and provided by the board of trustees and as authorized by this chapter, shall be a first and primary lien for the payment of the bonds and the interest on the bonds. In authorizing the issuance of the revenue bonds for any particular property or properties, the board of trustees may:
(1) limit the amount of bonds that may be issued as a first lien and charge against the property or properties and the net income from the properties; or
(2) subsequently authorize the issuance periodically of additional obligations secured by the same lien:
(A) to provide funds for the completion of the property or properties on account of which the original bonds were issued;
(B) for any other purpose for which Vincennes University has authority to issue bonds; or
(C) for purposes of both clauses (A) and (B).
(b) Additional bonds:
(1) shall be issued on the terms and conditions that the board of trustees determines; and
(2) may be secured equally and ratably, without preference, priority, or distinction, with the original issue of bonds or may be made junior to the original bonds.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-15(c).]
As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008, SEC.143.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-6. Authority to Exchange Funding or Refund Bonds

Sec. 6. If the board of trustees determines that it would be advantageous to Vincennes University to exchange funding or refunding bonds for bonds being refunded, the exchange may be made, if the actual interest cost is not increased.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-15(d).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-7. Maximum Amount of Bonds

Sec. 7. Bonds authorized under this chapter may be issued in an amount or amounts as the board of trustees determines. However, the bonds may not exceed:
(1) the total estimated cost of any proposed building, facility, work, act, or undertaking authorized, including interest during construction, incidental expenses, debt service reserves, and financing costs; or
(2) the amount required to effect any proposed funding or refunding operation.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(a).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-8. Bonds; Form; Terms and Conditions; Rates of Interest

Sec. 8. The bonds authorized under this chapter may be issued in the form, upon the terms and conditions, at the rates of interest, and in the denominations (which may be made convertible into different denominations) determined by:
(1) the adoption of a resolution;
(2) approval of a form of trust indenture between Vincennes University and a designated corporate trustee; or
(3) both subdivisions (1) and (2).
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(b).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-9. Resolution and Indenture for Bonds; Contents

Sec. 9. The resolution or the indenture for bonds authorized under this chapter may include:
(1) provisions for protecting and enforcing the rights and remedies of the holders of the bonds being issued;
(2) covenants setting forth the duties of Vincennes University and its officers in relation to the acquisition, construction, operation, maintenance, use, abandonment, insurance to be carried on its property, and the maintenance of fees and charges to be collected on account of its property;
(3) provisions for the custody, safeguarding, application of all money, and the rights and remedies of the trustee and the holders of the bonds being issued;
(4) provisions for the issuance of additional bonds as provided in the resolution or indenture; and
(5) other terms, conditions, limitations, and covenants as the board of trustees of Vincennes University considers proper.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(c).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-10. Public Sale of Bonds

Sec. 10. The bonds authorized under this chapter shall be sold at public sale or negotiated sale to the highest bidder as provided by IC 21-32-3. All bonds and the interest coupons appertaining to the bonds issued under this chapter are negotiable instruments within the meaning and for all purposes under the laws of Indiana, subject only to the provisions of the bonds for registration as to principal, or as to principal and interest. Any bonds registered as to principal and interest may be made convertible to bearer bonds with coupons.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(d).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-11. Actions to Contest Validity of Bonds

Sec. 11. An action to contest the validity of any bonds issued under this chapter may not be brought after the fifteenth day following:
(1) the first publication of notice of the sale or intent to sell the bonds under IC 21-32-3 if the bonds are sold at public sale; or
(2) the publication one (1) time in newspapers described in IC 21-32-3-3 of notice of execution and delivery of the contract of sale for the bonds if the bonds are sold at negotiated sale.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(e).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-12. Bonds; Notice of Sale

Sec. 12. Vincennes University shall publish notice under section 11(2) of this chapter if it sells bonds at negotiated sale not later than thirty (30) days after the execution of the contract of sale for the bonds.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(f).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-13. Bonds; Rates of Interest

Sec. 13. The rate or rates of interest of the bonds may be fixed or variable. Variable rates are determined under the procedures set forth in the resolution or indenture authorizing the issuance of the bonds. Bonds bearing a variable rate of interest may be converted to bonds bearing a fixed rate or rates of interest as set forth in the resolution or indenture. The interest may be payable semiannually, annually, or at other intervals provided in the resolution or indenture, or the interest may be compounded and paid at maturity or at any other time specified in the resolution or indenture.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-17(g).]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-14. Bonds and Coupons; Seal

Sec. 14. The bonds and coupons pertaining to the bonds shall be executed in the corporate name by the manual or facsimile signatures of the officer or officers of Vincennes University that the board of trustees designates. The signature of at least one (1) designated officer on each bond must be a manual signature. The seal or a facsimile of Vincennes University must be affixed, imprinted, engraved, or otherwise reproduced on each bond. In case any officer whose manual or facsimile signature appears on any bond or coupon ceases to be a designated officer before the delivery of the bonds, the signature is valid and sufficient for all purposes as if the officer had remained in office until delivery. The resolution or trust agreement under which the bonds are issued may provide for the authentication of the bonds by the trustee designated in the resolution of trust agreement.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-18.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-15. Bonds; Eligible Investments

Sec. 15. Any bonds issued under this chapter are eligible investments for the funds of any kind or character of every financial institution, insurance company, or private trust. The bonds are eligible for deposit by any financial institution, insurance company, or trustee under any law of Indiana providing for the deposit of securities or funds.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-19.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-16. Liability of Institution Limited

Sec. 16. Indebtedness, a bond, or an obligation incurred or created under the authority of this chapter may not be or become a lien, charge, or liability against Vincennes University or against the property or funds of Vincennes University except to the extent authorized by this chapter.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-22.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 6. Revenue Bonds; Vincennes University › 21-35-6-17. Tax Exemption

Sec. 17. All bonds issued under the authority of this chapter together with the interest on the bonds are exempt from taxation as provided by IC 6-8-5.
[Pre-2007 Higher Education Recodification Citation: 23-13-18-27.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-1. Purpose

Sec. 1. It is found and declared that:
(1) there is a need for the development of various facilities to properly service the various campuses of state educational institutions;
(2) an additional and alternative method for developing and financing facilities should be provided; and
(3) facilities would provide additional employment opportunities and would otherwise fulfill the public purposes set forth in IC 36-7-12.
This chapter applies to any state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-1.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-2. Applicability of Chapter

Sec. 2. This chapter applies to buildings and equipment located on or immediately adjacent to a campus of a state educational institution, the primary purpose of which is to make available or provide:
(1) offstreet parking;
(2) alternative transportation systems;
(3) office space;
(4) convenience, retail, and service establishments;
(5) bookstores;
(6) research;
(7) outpatient and extended care;
(8) food service;
(9) temporary lodging quarters or similar structures used by students, faculty, staff, patients, or visitors; or
(10) housing used by students in connection with hospitals, health care units, hospitality facilities, dormitories, or other residence facilities.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 part.]
As added by P.L.2-2007, SEC.276. Amended by P.L.205-2013, SEC.332; P.L.165-2016, SEC.19.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-3. Supplemental Effect of Chapter

Sec. 3. This chapter is supplemental to other laws pertaining to state educational institutions and does not repeal any other laws or impair any other powers or responsibilities granted to state educational institutions.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-8.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-4. Power of State Educational Institutions to Acquire Real and Personal Property

Sec. 4. In addition to any other powers that a state educational institution has, the board of trustees of a state educational institution may:
(1) enter into agreements concerning and to acquire by:
(A) gift;
(B) purchase; or
(C) lease;
land or interests in land and personal property needed for the purposes of this chapter;
(2) purchase, lease as lessee or lessor, construct, remodel, rebuild, enlarge, or substantially improve property;
(3) enter into financing agreements, including leasing land or property to users or developers, subject to this chapter; and
(4) enter into agreements with users or developers to allow users or developers to wholly or partially construct and manage property.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-3.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-5. Adoption of Resolution to Develop Property

Sec. 5. If the board of trustees of a state educational institution determines that it is desirable to develop property under this chapter, the board of trustees shall adopt a resolution finding that:
(1) the property is needed to adequately furnish services to the students, faculty, staff, patients in hospitals or health care units operated by the state educational institution, or visitors to hospitals or health care units operated by the state educational institution; and
(2) the services are not now being adequately furnished by others in the immediate area of the campus.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-4 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-6. Resolution; Contents

Sec. 6. The resolution under section 5 of this chapter must provide that the plans and specifications for the property and for the development and management of the property shall be approved by the board of trustees.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-4 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-7. Requirements for Management and Operation of Property

Sec. 7. If the management and operation of the property are to be by a developer or user, the specifications for the property must require that the property will be generally available to its occupants and visitors without discrimination and at reasonable charges. These charges shall be reviewed and revised periodically by the board of trustees of the state educational institution to assure that the charges are at all times nondiscriminatory and reasonable.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-4 part.]
As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008, SEC.144; P.L.205-2013, SEC.333; P.L.165-2016, SEC.20.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-8. Proposals for the Development, Use, and Management of Property

Sec. 8. The board of trustees of a state educational institution shall take action to invite proposals for the development, use, and management, if applicable, of property to provide open and competitive proposals.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-5 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-9. Award for the Development, Use, and Management of Property; Considerations

Sec. 9. In making an award for the development, use, and management, if applicable, of property, the board of trustees of a state educational institution may consider:
(1) the experience and financial ability of a developer or user;
(2) the plans and specifications for the property;
(3) the size and cost of the property;
(4) payments to be made to or from the state educational institution;
(5) the method of financing and the terms and conditions of any proposed financing agreement; and
(6) any other factors of benefit to the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-5 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-10. Award for the Development, Use, and Management of Property; Approval by Budget Agency and Governor

Sec. 10. An award for the development, use, and management, if applicable, of property is not final until:
(1) approved by the governor and the budget agency, with the recommendation of the budget committee; and
(2) the notice is provided as specified in section 11 of this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-5 part.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-11. Notice of Determination to Make an Award

Sec. 11. (a) A notice of the determination to make an award for the development, use, and management, if applicable, of property that briefly describes:
(1) the property;
(2) the purpose of the property; and
(3) the principal terms of any financing agreement;
shall be published under this section.
(b) The notice under subsection (a) shall be published in:
(1) two (2) newspapers of general circulation in Indianapolis;
(2) one (1) newspaper of general circulation in the city where the property is to be located; and
(3) one (1) newspaper of general circulation in the city where the principal campus of the state educational institution is located.
(c) The notice under subsection (a) must be published once each week for two (2) successive weeks.
(d) An action to contest the validity of any financing agreement may not be commenced more than thirty (30) days following the last publication under this section of notice of the determination to make an award.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-6.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 7. Revenue Producing Property; Financing Agreements With a Developer or User › 21-35-7-12. Tax Exemption

Sec. 12. All payments received by a state educational institution under a financing agreement authorized by this chapter are exempt from all taxation.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-7.]
As added by P.L.2-2007, SEC.276.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 1. General Provisions; Definitions › 21-36-1-2. "Political Subdivision"

Sec. 2. "Political subdivision" has the meaning set forth in IC 36-1-2-13.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-2(c) part.]
As added by P.L.2-2007, SEC.277.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 1. General Provisions; Definitions › 21-36-1-3. "State Agency"

Sec. 3. "State agency" has the meaning set forth in IC 2-2.2-1-19.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-2(c) part.]
As added by P.L.2-2007, SEC.277. Amended by P.L.123-2015, SEC.29.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 1. General Provisions; Definitions › 21-36-1-4. "Trust"

Sec. 4. "Trust" has the meaning set forth in IC 30-4-1-1(a).
[Pre-2007 Higher Education Recodification Citation: 20-12-5-5(b) part.]
As added by P.L.2-2007, SEC.277.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 2. Disposition of Property to a Trust › 21-36-2-1. Applicability of Chapter

Sec. 1. This chapter applies to the disposal of surplus real or personal property by a state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-5-5(a).]
As added by P.L.2-2007, SEC.277.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 2. Disposition of Property to a Trust › 21-36-2-2. Bids; Criteria

Sec. 2. Whenever surplus real property or personal property is disposed of by acceptance of bids, a bid submitted by a trust must identify each:
(1) beneficiary of the trust; and
(2) settlor empowered to revoke or modify the trust.
[Pre-2007 Higher Education Recodification Citation: 20-12-5-5(b) part.]
As added by P.L.2-2007, SEC.277.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 3. Sale of Real Estate › 21-36-3-1. Applicability of Chapter

Sec. 1. This chapter applies to the following state educational institutions:
(1) Indiana University.
(2) Purdue University.
(3) Indiana State University.
(4) Ball State University.
(5) Ivy Tech Community College.
(6) University of Southern Indiana.
(7) Vincennes University.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-1 part.]
As added by P.L.2-2007, SEC.277. Amended by P.L.205-2013, SEC.334.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 3. Sale of Real Estate › 21-36-3-2. Supplemental Effect of Chapter

Sec. 2. This chapter shall at all times be construed as supplemental to all other statutes providing for the sale of real estate by a state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-5.]
As added by P.L.2-2007, SEC.277.
2023 Indiana Code › Title 21. Higher Education › Article 36. State Educational Institutions: Disposition of Property › Chapter 3. Sale of Real Estate › 21-36-3-3. Authority to Sell or Convey Real Property

Sec. 3. The board of trustees of a state educational institution may sell and convey any real estate title that is in the name of the:
(1) board of trustees of the state educational institution; or
(2) state of Indiana for the use and benefit of the state educational institution;
as provided in this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-1 part.]
As added by P.L.2-2007, SEC.277.