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 […]
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 […]
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. […]
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. […]
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.
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.
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 […]
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 […]
