21-34-10-8. Issuance of Bonds Without Approval of the General Assembly for Deferred Expenditures
Sec. 8. Bonds may be issued by the board of trustees of Purdue University without the approval of the general assembly for deferred expenditures, as determined under accounting principles approved by the state board of accounts, to: (1) repair, rehabilitate, remodel, renovate, or reconstruct existing facilities or buildings; (2) improve or replace utilities or fixed […]
21-34-9-2. Applicability of Chapter
Sec. 2. This chapter does not apply to any contract: (1) relating to a building facility the cost of which does not exceed three hundred fifty thousand dollars ($350,000); or (2) for architectural or engineering services relating to the planning of a building facility. [Pre-2007 Higher Education Recodification Citation: 20-12-6-15(b).] As added by P.L.2-2007, SEC.275. […]
21-34-7-1. Written Contract for Grants
Sec. 1. (a) The board of trustees of a state educational institution that has entered into a written contract for a grant, pending the receipt of the grant, but within the limitations set forth in section 2 of this chapter, may: (1) borrow from any person; and (2) evidence the debt by a note or […]
21-34-7-2. Maximum Amount of Grant Anticipation Loan; Sources of Payment
Sec. 2. A grant anticipation loan may not exceed the estimated aggregate amount of the grant or grants in anticipation of which the loan is made. The grant anticipation note must be structured to amortize and to pay principal of and interest on the loan in accordance with anticipated receipts of the grant or grants. […]
21-34-7-3. Notes for a Grant Anticipation Loan
Sec. 3. The notes for a grant anticipation loan must be: (1) executed in the same manner as provided for bonds in IC 21-34-6-18; and (2) sold in the same manner as provided for bonds in IC 21-34-6-8 through IC 21-34-6-17. [Pre-2007 Higher Education Recodification Citation: 20-12-6-8.5(c).] As added by P.L.2-2007, SEC.275.
21-34-7-4. Proceeds of a Grant Anticipation Loan
Sec. 4. The board of trustees of a state educational institution shall apply the proceeds of any grant anticipation notes to those items of cost for which the grant has been allocated by the granting agencies. The purchaser of any notes: (1) is not liable for any improper use of the proceeds; and (2) does […]
21-34-8-1. Liability of Trustees for Indebtedness Limited
Sec. 1. IC 21-34-4 or another provision of this article may not be construed to make any board of trustees of a state educational institution liable for any indebtedness, bonds, or obligations incurred, created, or issued under the authority of this article by any other state educational institution. [Pre-2007 Higher Education Recodification Citation: 20-12-6-9(d).] As […]
21-34-10-1. Bonds; Approval of Budget Committee, Budget Agency, and Governor
Sec. 1. (a) Bonds may not be issued by the board of trustees of a state educational institution under this article without the specific approval of the: (1) budget committee; (2) budget agency; and (3) governor. (b) The budget agency may request and consider the recommendation of the staff of the Indiana finance authority with […]
21-34-6-16. Mandatory Redemption
Sec. 16. Bonds may be made subject, at the option of the holders, to mandatory redemption by the board of trustees of 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: 20-12-6-7(i).] As added by P.L.2-2007, SEC.275.
21-34-8-2. Liability of State or Institutions for Indebtedness Limited
Sec. 2. All indebtedness, bonds, or obligations incurred, created, or issued under the authority of this article: (1) are payable solely out of the building facilities fund and the property, fees, income, and funds pledged or mortgaged as authorized; and (2) may not be or become an indebtedness of or liability against the state of […]