IC 21-32-2
    Chapter 2. Temporary Borrowings; Loans; Lines of Credit; CreditFacilities

IC 21-32-2-1
Supplemental powers
    Sec. 1. The powers of a state educational institution under thischapter are in addition to all other powers of the state educationalinstitution to issue obligations.
As added by P.L.2-2007, SEC.273.

IC 21-32-2-2
State educational institution's powers
    Sec. 2. A state educational institution may do any of thefollowing:
        (1) Borrow funds on a temporary basis in anticipation of theissuance of long term obligations.
        (2) Use the proceeds of a temporary borrowing for any purposefor which the institution could issue or incur obligations underIC 21-33-3-5, IC 21-34, IC 21-35-2, IC 21-35-3, or IC 21-35-5.
        (3) Issue a temporary borrowing:
            (A) in the form of a bond, note, commercial paper, or anyother form;
            (B) upon the terms and conditions and with the provisions(including redemption provisions);
            (C) at the rate or rates of interest (fixed or variable); and
            (D) subject to subdivision (5), in the denominations;
        as the state educational institution determines under subdivision(6).
        (4) Negotiate the terms of any temporary borrowing.
        (5) Make the denominations determined under subdivision(3)(D) convertible into different denominations.
        (6) Make the determinations under subdivision (3) by any of thefollowing:
            (A) The adoption of a resolution.
            (B) The approval of a form of indenture between the stateeducational institution and a designated corporate trustee.
As added by P.L.2-2007, SEC.273. Amended by P.L.79-2010, SEC.2.

IC 21-32-2-3
Additional powers of state educational institution
    Sec. 3. (a) A state educational institution may:
        (1) negotiate:
            (A) a loan;
            (B) a line of credit; or
            (C) any other credit facility; and
        (2) issue a note for a credit facility;
with any institution or entity on the terms and conditions that thestate educational institution determines.
    (b) A state educational institution may make the determinations

under this section by:
        (1) the adoption of a resolution; or
        (2) the approval of an agreement between the state educationalinstitution and the institution or entity.
As added by P.L.2-2007, SEC.273.

IC 21-32-2-4
Authority to pledge and assign security for the payment of bondsor notes
    Sec. 4. A state educational institution may pledge and assign forthe benefit of holders of:
        (1) temporary obligations; or
        (2) a credit facility;
under this chapter any security that the state educational institutionmay pledge and assign for the payment of bonds or notes underIC 21-34, IC 21-35-2, IC 21-35-3, or IC 21-35-5.
As added by P.L.2-2007, SEC.273.