reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 1. General Provisions; Definitions › 21-35-1-2. "Bond"

Sec. 2. "Bond" means the following:
(1) For purposes of IC 21-35-2, any bond evidencing indebtedness for borrowed money under IC 21-35-2.
(2) For purposes of IC 21-35-3, any bond evidencing indebtedness for borrowed money under IC 21-35-3.
(3) For purposes of IC 21-35-4, any bond evidencing indebtedness for borrowed money under IC 21-35-4.
(4) For purposes of IC 21-35-5, any bond evidencing indebtedness for borrowed money under IC 21-35-5.
(5) For purposes of IC 21-35-6, any:
(A) bonds (including refunding bonds);
(B) notes;
(C) temporary, interim, or permanent certificates of indebtedness;
(D) debentures; or
(E) other obligations;
evidencing indebtedness for borrowed money under IC 21-35-6.
[Pre-2007 Higher Education Recodification Citations: 23-13-18-20; 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 1. General Provisions; Definitions › 21-35-1-3. "Developer"

Sec. 3. "Developer", for purposes of IC 21-35-7, means a for profit or nonprofit:
(1) person;
(2) firm;
(3) partnership;
(4) limited liability company;
(5) trust;
(6) association; or
(7) corporation;
that enters or proposes to enter into a financing agreement with a state educational institution for construction of facilities or management of facilities, or both.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 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 1. General Provisions; Definitions › 21-35-1-4. "Facilities"

Sec. 4. "Facilities", for purposes of IC 21-35-7, means buildings and equipment located on or immediately adjacent to a university campus, 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:
(A) students;
(B) faculty;
(C) staff;
(D) patients; or
(E) visitors;
(10) housing used by students in connection with:
(A) hospitals;
(B) health care units;
(C) dormitories; or
(D) other residence facilities;
(11) academic instruction; or
(12) any combination of the buildings and services listed in this section.
[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.165-2016, SEC.18.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 1. General Provisions; Definitions › 21-35-1-5. "Financing"

Sec. 5. "Financing", for purposes of IC 21-35-7, means the activities listed in IC 21-35-7-4.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 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 1. General Provisions; Definitions › 21-35-1-6. "Financing Agreement"

Sec. 6. "Financing agreement", for purposes of IC 21-35-7, means any agreement between a state educational institution and a developer or user concerning:
(1) the:
(A) acquisition;
(B) construction; or
(C) management;
of facilities;
(2) the:
(A) financing;
(B) leasing; or
(C) possession;
of facilities; or
(3) any combination of the items listed in subdivisions (1) and (2); and
(4) payments to or from the university in respect of the items listed in subdivisions (1) and (2).
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 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 1. General Provisions; Definitions › 21-35-1-7. "Income"

Sec. 7. "Income":
(1) for purposes of IC 21-35-2, with respect to any property, includes the sum of all mandatory student service fees:
(A) collected for the use of the property; and
(B) assessed against the students of the institution;
to provide security for bonds issued under IC 21-35-2; and
(2) for purposes of IC 21-35-3, with respect to a campus facility, includes the sum of all mandatory student service fees:
(A) collected for the use of the facility; and
(B) assessed against the students of the institution;
to provide security for bonds issued under IC 21-35-3.
[Pre-2007 Higher Education Recodification Citations: 20-12-7-1.2; 20-12-8-1.2.]
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 1. General Provisions; Definitions › 21-35-1-8. "Net Income"

Sec. 8. "Net income" for purposes of IC 21-35-2 and IC 21-35-3, with respect to any property, means income minus the costs of operating, maintaining, and repairing the property except when these costs are otherwise paid.
[Pre-2007 Higher Education Recodification Citations: 20-12-7-1.3; 20-12-8-1.3.]
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 1. General Provisions; Definitions › 21-35-1-9. "Property"

Sec. 9. "Property":
(1) for purposes of IC 21-35-2, means any property that the board of trustees of a state educational institution is authorized to finance under IC 21-35-2 and under IC 21-35-5 by the issuance of bonds, refunding bonds, or advance refunding bonds;
(2) for purposes of IC 21-35-3, means any property that the board of trustees of a state educational institution is authorized to finance under IC 21-35-3 and under IC 21-35-5 by the issuance of bonds, refunding bonds, or advance refunding bonds; and
(3) for purposes of IC 21-35-5, means any property that the board of trustees of a state educational institution is authorized to finance by the issuance of revenue obligations issued under IC 21-35-5.
[Pre-2007 Higher Education Recodification Citations: 20-12-7-1.4; 20-12-9-1(3) part; 20-12-8-1.4.]
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 1. General Provisions; Definitions › 21-35-1-10. "Research Facility"

Sec. 10. "Research facility", for purposes of IC 21-35-3, refers to property described in IC 21-35-3-2(2).
[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 1. General Provisions; Definitions › 21-35-1-11. "Revenue Obligations"

Sec. 11. "Revenue obligations", for purposes of IC 21-35-5, means any obligations, including:
(1) bonds;
(2) notes;
(3) temporary, interim, or permanent certificates of indebtedness;
(4) debentures; or
(5) other obligations;
payable out of revenues derived from properties described in IC 21-35-5.
[Pre-2007 Higher Education Recodification Citation: 20-12-9-1(2).]
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 1. General Provisions; Definitions › 21-35-1-12. "Support Facility"

Sec. 12. "Support facility", for purposes of IC 21-35-3, refers to property described in IC 21-35-3-2(1).
[Pre-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 1. General Provisions; Definitions › 21-35-1-13. "User"

Sec. 13. "User", for purposes of IC 21-35-7, means any of the following that has entered into a financing agreement with a state educational institution or developer in contemplation of the user's use of the facilities referred to in the agreement:
(1) A person.
(2) A firm.
(3) A partnership.
(4) A limited liability company.
(5) A trust.
(6) An association.
(7) A corporation.
[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-1. 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: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-2. Applicable Properties

Sec. 2. This chapter applies to the following property:
(1) Athletic field houses.
(2) Gymnasiums.
(3) Student unions.
(4) Halls of music.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-3. Supplemental Effect of Chapter

Sec. 3. This chapter may not be construed to repeal, modify, or amend any Indiana law in effect on March 8, 1929, but shall be construed to be supplemental to any Indiana law in effect on March 8, 1929.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-10.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-4. Prior Contracts Validated

Sec. 4. (a) Sections 20 through 23 of this chapter may not be construed to affect the validity of:
(1) any contracts executed before March 9, 1965; or
(2) any bonds contracted to be sold before March 9, 1965.
(b) Sections 20 through 23 of this chapter do not apply to:
(1) any facilities:
(A) approved by:
(i) the budget agency or any predecessor to the budget agency; and
(ii) the governor;
before March 9, 1965; or
(B) for which temporary or interim financing commitments were made before March 9, 1965; or
(2) the issuance of bonds for any facilities described in subdivision (1).
[Pre-2007 Higher Education Recodification Citation: 20-12-7-11.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-5. Effect of Acts 1977, p.l. 250

Sec. 5. (a) Acts 1977, P.L.250 does not affect the issuance of bonds for projects approved by the budget committee and the governor before July 1, 1977.
(b) The termination of bonding authority under Acts 1977, P.L.250 does not prevent, limit, or affect the issuance of bonds under IC 5-1-5.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-12.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-6. Authority to Erect, Construct, Complete, Equip, Furnish, Operate, Control, and Manage Property

Sec. 6. The board of trustees of a state educational institution may, as the board of trustees finds necessary, erect, construct, complete, equip, furnish, operate, control, and manage property with another state educational institution for the purposes of the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-7. Authority to Acquire Real and Personal Property

Sec. 7. The board of trustees of a state educational institution may acquire under this chapter or any other law, by:
(1) purchase;
(2) lease;
(3) condemnation;
(4) gift; or
(5) other means;
any property, real or personal, that in the judgment of the board of trustees is necessary for the state educational institution's purposes.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-8. Authority to Use Real or Personal Property Acquired

Sec. 8. The board of trustees may use for the state educational institution's purposes any real or personal property acquired by the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-9. Title to Acquired Property

Sec. 9. Title to all property acquired by the state educational institution, including the improvements on the property, shall be taken and held in the name of the board of trustees in their corporate capacity for purposes of this chapter.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-10. Acquisition of Real Property; Approval of Governor; Conveyance and Execution of Deed

Sec. 10. (a) If:
(1) a state educational institution receives by gift, benefaction, or other means any structures or equipment:
(A) located on real estate, title to which is in the name of the state, for the use and benefit of:
(i) the state educational institution; or
(ii) the board of trustees of the state educational institution; and
(B) that:
(i) is incomplete; or
(ii) in the judgment of its board of trustees, is insufficient for the needs of the state educational institution; or
(2) the board of trustees of a state educational institution decides to locate and construct any structures or equipment on real estate, title to which is in the name of the state for the use and benefit of:
(A) the state educational institution; or
(B) the board of trustees of the state educational institution;
the parcel of real estate on which the structures or equipment is located or on which it is proposed to locate the structures and equipment and reasonably required by the state educational institution for any of the purposes enumerated in this chapter may, upon request in writing of the board of trustees of the state educational institution to the governor and the approval of the governor, be conveyed by deed from the state to the board of trustees of the state educational institution in their corporate capacity for the purposes, or any of the purposes, of this chapter.
(b) The governor may execute and deliver the deed:
(1) in the name of the state of Indiana;
(2) signed on behalf of the state by the governor;
(3) attested by the auditor of state; and
(4) with the seal of the state affixed to the deed.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-1 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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-11. Issuance and Sale of Bonds

Sec. 11. To raise funds for the acquisition of property and the erection, construction, remodeling, renovation, furnishing, and equipping of property, the board of trustees of a state educational institution may issue and sell bonds of the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-2(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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-12. Bonds and Interest on Bonds Secured by Pledges or Mortgages

Sec. 12. Bonds, and the interest on the bonds, may be secured by pledge or mortgage of:
(1) any property, real or personal, used or acquired or to be acquired and used for the purposes described under this chapter and the improvements made or to be made on the property;
(2) the net income from the property;
(3) the property and the net income from the property; or
(4) any unobligated net income of any property financed under this chapter;
as the board of trustees determines.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-2(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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-13. Liens

Sec. 13. The lien of the pledge or mortgage, to the extent of the lien, as:
(1) determined and provided by the board of trustees; and
(2) authorized under this chapter;
is a first and primary lien for the payment of the bonds secured and the interest on the bonds.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-2(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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-14. Maximum Amount of Bonds

Sec. 14. Bonds may be issued for the amount or amounts as the board of trustees determines. However, these amounts may not exceed:
(1) the total estimated cost of acquiring, erecting, constructing, remodeling, renovating, completing, equipping, and furnishing any property as the respective trustees determine the cost to be; plus
(2) incidental expenses, financing costs, underwriter's discount, funded or capitalized interest, municipal bond insurance premiums, or funding debt service reserve funds from bond proceeds.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-2(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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-15. Determination of Denomination and Maturation of Bonds; Rates of Interest

Sec. 15. (a) Bonds may be issued in the denominations and with the maturities as the respective trustees determine, and, in the discretion of the respective trustees, the bonds may be sold either at public or negotiated sale as provided by IC 21-32-3.
(b) The rate or rates of interest on the bonds may be fixed or variable. Variable rates shall be determined in the manner and in accordance with 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 to the extent and in the manner set forth in the resolution or indenture under which the bonds are issued.
(c) The interest may be:
(1) payable semiannually, annually, or at any other interval or intervals provided in the resolution; or
(2) compounded and paid at maturity or at any other time as specified in the resolution or indenture.
(d) The bonds may be made subject to redemption by the state educational institution at the times and under the circumstances set forth in the authorizing resolution or indenture.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-2(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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-16. Bonds and Pledges or Mortgages Made in the Name of the State Educational Institution

Sec. 16. Bonds and the pledge or mortgage securing the bonds, shall be issued, and made in the name, and on behalf of the state educational institution by the officer or officers that the board of trustees designates.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-2(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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-17. Liability of State or Institutions for Indebtedness Limited

Sec. 17. Indebtedness, a bond, or an obligation incurred or created under the authority of this chapter may not be or become:
(1) an indebtedness of or liability against the state of Indiana or a state educational institution; or
(2) a lien or charge against the property or funds of a state educational institution;
except to the extent of the property or income pledged or mortgaged as authorized.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-3.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-18. Authority to Furnish Heat, Light, Power, and Other Like Facilities or Services With or Without Charge

Sec. 18. The board of trustees may furnish heat, light, power, and other like facilities or service to any or all of the buildings, structures, or improvements contemplated by this chapter from the plant or plants or facilities of the state educational institution with or without charge.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-4.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-19. Tax Exemption

Sec. 19. All:
(1) property acquired under authority of this chapter or used for the purposes provided in this chapter; and
(2) bonds issued under the authority of this chapter, together with the interest on the bonds;
are exempt from taxation.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-5.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-20. Contracts; Approval of the Budget Agency and Governor

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.
2023 Indiana Code › Title 21. Higher Education › Article 35. State Educational Institutions: Revenue Bonds and Other Financing Arrangements › Chapter 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-21. Issuance of Bonds; Approval of the Budget Agency, Budget Committee, and Governor; Recommendations; Refunds

Sec. 21. (a) Bonds may not be issued by the board of trustees of 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 as required by this chapter; and
(B) the board of trustees of the state educational institution makes the findings described in subsection (b); and
(2) the budget committee, 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 result; 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: 20-12-7-7.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-22. Bond Issuance; Limitations

Sec. 22. Bonds may not be issued by any of the institutions under this chapter unless the general assembly has provided for the bonds by establishing in the appropriation act the amount of bonds that the institutions may issue for the purposes described in section 14(1) of this chapter. However, the bonds, regardless of when the appropriation law was enacted, may be issued in an amount not exceeding:
(1) the amount of bonds approved in the appropriation law together with the amounts described in section 14(2) of this chapter; plus
(2) the amount of the discount below par value, if the bonds are sold at a price below par value under IC 21-32-3-2.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-8.]
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 2. Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds › 21-35-2-23. Actions to Contest Validity of Bonds

Sec. 23. 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 it sells bonds at negotiated sale no later than thirty (30) days after the execution of the contract of sale for the bonds.
[Pre-2007 Higher Education Recodification Citation: 20-12-7-9.]
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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-1. 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: 20-12-8-1(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-2. Applicable Properties

Sec. 2. This chapter applies to the following property:
(1) With respect to any state educational institution to which this chapter applies, the following support facilities:
(A) Dormitories and other housing facilities for single and married students and school personnel.
(B) Food service facilities.
(C) Student infirmaries and other health service facilities, including revenue producing hospital facilities serving the general public, together with parking facilities and other appurtenances in connection with student infirmaries and other health service facilities.
(D) Parking facilities in connection with academic facilities.
(2) With respect to Indiana University and Purdue University only, the following research facilities:
(A) Facilities used for clinical, medical, scientific, or engineering research.
(B) Facilities used for other similar qualitative, quantitative, or experimental research.
[Pre-2007 Higher Education Recodification Citations: 20-12-8-1(a) part; 20-12-8-1(b) 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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-3. Supplemental Effect of Chapter

Sec. 3. This chapter does not repeal, modify, or amend any Indiana law in force on March 9, 1927, but shall be considered as supplemental to that law.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-10.]
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 › 21-35-3-4. Prior Contracts and Bonds Unaffected; Limited Applicability of Chapter

Sec. 4. This chapter may not be construed to affect the validity of any contracts executed before March 10, 1965, or the validity of any bonds contracted to be sold before March 10, 1965. This chapter does not apply to any facilities approved by the budget agency or any predecessor of the budget agency and the governor before March 10, 1965, or to any facilities for which temporary or interim financing commitments were made before March 10, 1965, or to the issuance of bonds for any such facilities.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-11.]
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 › 21-35-3-5. Effect of Acts 1977 p.l.250

Sec. 5. (a) Acts 1977, P.L.250 does not affect the issuance of bonds for projects approved by the budget committee and the governor before July 1, 1977.
(b) The termination of bonding authority under Acts 1977, P.L.250 does not prevent, limit, or affect the issuance of bonds under IC 5-1-5.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-12.]
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 › 21-35-3-6. Construction, Improvement, Operation, and Control of Various Facilities; Acquisition of Real and Personal Property for Facilities; Authorized

Sec. 6. The board of trustees of a state educational institution may, if the board of trustees finds that a necessity exists, erect, construct, reconstruct, extend, remodel, improve, complete, equip, furnish, operate, control, and manage support facilities at or in connection with the state educational institution or another state educational institution for purposes of the respective state educational institutions.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-7. Indiana University and Purdue University Boards; Power to Construct, Improve, Operate, and Control Various Facilities; Limitations on Use of Fees

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.
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 › 21-35-3-8. Authority to Acquire Personal and Real Property

Sec. 8. A state educational institution may acquire by:
(1) purchase;
(2) lease;
(3) condemnation;
(4) gift; or
(5) other means;
any property, real or personal, that in the judgment of the state educational institution is necessary for a support facility or a research facility.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(c) 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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-9. Authority to Improve and Use Acquired Property

Sec. 9. A state educational institution may improve and use any property acquired for a support facility or a research facility.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(c) 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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-10. Title to Acquired Property

Sec. 10. Title to all property acquired by a state educational institution, including the improvements located on the property, shall be taken and held by and in the name of the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(d) 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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-11. Acquisition of Real Property; Approval of Governor; Conveyance and Execution of Deed

Sec. 11. (a) If the board of trustees of any state educational institution determines that real estate, the title to which is in the name of the state, for the use and benefit of the board of trustees or the state educational institution under the board's control, is reasonably required for use as a support facility or a research facility, the real estate may, upon:
(1) request in writing of the board of trustees of the state educational institution to the governor; and
(2) the approval of the governor;
be conveyed by deed from the state to the board of trustees of the state educational institution.
(b) The governor may execute and deliver the deed:
(1) in the name of the state of Indiana;
(2) signed on behalf of the state by the governor;
(3) attested by the auditor of state; and
(4) with the seal of the state affixed to the deed.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-1(d) 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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-12. Issuance and Sale of Bonds

Sec. 12. To raise funds for the acquisition of property and the erection, construction, reconstruction, extension, remodeling, improvement, completion, equipping, and furnishing of property, the board of trustees of a state educational institution may issue and sell bonds of the state educational institution.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-13. Bonds and Interest on Bonds Secured by Pledge or Mortgage

Sec. 13. The bonds and the interest on the bonds may be secured by pledge or mortgage of:
(1) any property, real or personal, used or acquired or to be acquired and used for the property and the improvements made or to be made on the property;
(2) the net income from the property;
(3) the property and the net income from the property; or
(4) any unobligated net income of any property financed under this chapter;
as the board of trustees may determine.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-14. Liens

Sec. 14. The lien of the pledge or mortgage, to the extent of the lien:
(1) as determined and provided by the board of trustees; and
(2) as authorized under this chapter;
is a first and primary lien for the payment of the bonds and the interest on the bonds.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-15. Maximum Bond Amounts

Sec. 15. The bonds may be issued for an amount or amounts as the board of trustees determines. However, these amounts may not exceed:
(1) the total estimated cost of acquiring property for and erecting, constructing, reconstructing, extending, remodeling, improving, completing, equipping, furnishing, and financing the proposed property as the board of trustees determines the cost to be; plus
(2) incidental expenses, financing costs, underwriter's discount, funded or capitalized interest, municipal bond insurance premiums, or funding debt service reserve funds from bond proceeds.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-16. Determination of Denominations and Maturation of Bonds; Rates of Interest

Sec. 16. (a) The bonds may be:
(1) issued in the denominations and with the maturities as the board of trustees determines; and
(2) in the discretion of the board of trustees, sold either at public or negotiated sale, as provided by IC 21-32-3-1.
(b) The rate or rates of interest on the bonds may be fixed or variable. Variable rates must be determined in the manner and in accordance with 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 to the extent and in the manner set forth in the resolution or indenture under which the bonds are issued.
(c) Interest on bonds may be:
(1) payable semiannually, annually, or at any other interval or intervals provided in the resolution; or
(2) compounded and paid at maturity or at any other time as specified in the resolution or indenture.
(d) The bonds may be made subject to redemption by the state educational institution at the times and under the circumstances set forth in the authorizing resolution or indenture.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-17. Bonds and Pledges or Mortgages Made in the Name of the State Educational Institution

Sec. 17. Bonds and the pledge or mortgage securing bonds, shall be issued and made in the name and on behalf of the state educational institution by the officer or officers that the board of trustees designates.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-2(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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-18. Limitation on State or Institutional Liability for Indebtedness

Sec. 18. 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:
(1) the state of Indiana;
(2) the state educational institution issuing the bonds; or
(3) the property or funds of the state or the state educational institution issuing the bonds, except to the extent of the property or income authorized to be pledged or mortgaged.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-3.]
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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-19. Authority to Furnish Heat, Light, Power, and Other Like Facilities or Services With or Without Charge

Sec. 19. The board of trustees of a state educational institution may furnish heat, light, power, and other like services to any or all property with or without charge.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-4.]
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 › 21-35-3-20. Tax Exemption

Sec. 20. All:
(1) property:
(A) acquired under authority of this chapter; or
(B) used as a support facility or a research facility; and
(2) bonds issued under the authority of this chapter, together with the interest on the bonds;
are exempt from taxation.
[Pre-2007 Higher Education Recodification Citation: 20-12-8-5.]
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 3. Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds › 21-35-3-21. Contracts; Approval of the Budget Agency and Governor

Sec. 21. (a) Subject to this section, contracts to:
(1) acquire land for;
(2) construct, purchase, lease, sublease, or otherwise acquire; or
(3) engage architectural or engineering services in connection with;
any property to be financed in whole or in part by the issuance of bonds under this chapter may not be made by any 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 property, the cost of which does not exceed fifty thousand dollars ($50,000).
[Pre-2007 Higher Education Recodification Citation: 20-12-8-6.]
As added by P.L.2-2007, SEC.276.