CHAPTER 1. GENERAL PROVISIONS; DEFINITIONS
IC 21-34
ARTICLE 34. STATE EDUCATIONALINSTITUTIONS: ACQUISITION AND IMPROVEMENTOF BUILDING FACILITIES AND EQUIPMENT; BONDS
IC 21-34-1
Chapter 1. General Provisions; Definitions
IC 21-34-1-1
Applicability of article
Sec. 1. This article applies to all state educational institutions.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-2
Limitations on applicability of article
Sec. 2. This article does not apply to the acquisition, construction,financing, or refinancing of any revenue producing facility that astate educational institution is authorized to acquire, construct, orfinance under IC 21-35-2 or IC 21-35-3.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-3
Supplemental effect of article
Sec. 3. This article does not repeal, modify, or amend any Indianalaw in effect on March 10, 1965, but is supplemental to the laws ofthis state in effect on March 10, 1965.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-4
Prior contracts validated
Sec. 4. This article does not affect the validity of any contractsexecuted before March 10, 1965.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-5
Definitions
Sec. 5. The definitions in this chapter apply throughout thisarticle.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-6
"Bond"
Sec. 6. "Bond" means
(1) bonds (including refunding bonds);
(2) notes;
(3) temporary, interim, or permanent certificates ofindebtedness;
(4) debentures; or
(5) other obligations;evidencing indebtedness for borrowed money under this article. Theterm does not include installment contracts or similar instrumentsunder IC 21-34-3-4.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-7
"Building facility"
Sec. 7. "Building facility" means the following:
(1) Any buildings, structures, improvements, or facilities.
(2) Any utilities, other services, and appurtenances related to anitem described in subdivision (1) (including facilities for theproduction and transmission of heat, light, water and power,sewage disposal facilities, streets and walks, and parkingfacilities).
(3) The land required for items described in subdivision (1) or(2).
The term includes equipment.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-8
"Building facilities fee"
Sec. 8. "Building facilities fee" refers to a building facilities feeimposed under IC 21-34-5-1.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-9
"Building facilities fund"
Sec. 9. "Building facilities fund" refers to a building facilitiesfund established under IC 21-34-5-3.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-10
"Cost"
Sec. 10. "Cost" means:
(1) all or any part of the cost of construction and acquisition ofall lands, structures, real or personal property, rights,rights-of-way, franchises, easements, and interests acquired orused under this article.
(2) the cost of demolishing or removing any buildings orstructures on land so acquired, including the cost of acquiringany lands to which the buildings or structures may be moved;
(3) the cost of all machinery and equipment, financing charges,and interest before, during, and for a period not exceeding one(1) year after the estimated date of completion of constructionor acquisition;
(4) the reserves for debt service and for extensions,enlargements, additions, replacements, renovations, andimprovements to building facilities;
(5) the cost of architectural, engineering, trustee, financial,legal, and related services; (6) the act of underwriters;
(7) the cost of plans, specifications, studies, surveys, andestimates of cost and of revenues;
(8) the administrative expenses, expenses necessary or incidentto determining the feasibility or practicability of anyundertaking under this article; and
(9) other expenses as may be necessary or incident to theconstruction, acquisition, and the financing of any undertakingunder this article.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-11
"Eligible members"
Sec. 11. "Eligible members" includes all:
(1) state educational institutions; and
(2) private postsecondary educational institutions.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-12
"Fee replacement"
Sec. 12. "Fee replacement" means payments to a state educationalinstitution to be used to pay indebtedness resulting from financingthe cost of:
(1) planning;
(2) purchasing;
(3) rehabilitation;
(4) construction;
(5) repair;
(6) leasing;
(7) lease-purchasing; or
(8) otherwise acquiring;
land, buildings, facilities, and equipment to be used for academic andinstructional purposes.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-13
"Grant"
Sec. 13. "Grant" means money received under a written agreementor written agreements for a grant or gift from any one (1) or more ofthe following sources:
(1) The United States government or its agencies.
(2) The state or any of its agencies.
(3) A private corporation, individual, trust, or foundation, if themoney is provided for the purpose of acquisition, improvement,renovation, or construction of building facilities that a stateeducational institution may lawfully undertake.
As added by P.L.2-2007, SEC.275. Amended by P.L.79-2010, SEC.4.
IC 21-34-1-14
"Grant anticipation loan" Sec. 14. "Grant anticipation loan" refers to a loan entered intounder IC 21-34-7-1.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-14.2
"Grant anticipation note"
Sec. 14.2. "Grant anticipation note" refers to a note executed toevidence a grant anticipation loan.
As added by P.L.79-2010, SEC.5.
IC 21-34-1-15
"Indenture"
Sec. 15. "Indenture" refers to an indenture issued under this articlefor the issuance of bonds.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-16
"Joint use agreements"
Sec. 16. "Joint use agreements" means agreements between two(2) or more state educational institutions providing for the joint useof building facilities.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-17
"Liability"
Sec. 17. "Liability" means legal liability for damages (includingcosts of defense, legal costs and fees, and other claims expenses)because of injuries to other persons or entities, damage to theirproperty or business, or other damage or loss to those persons orentities resulting from or arising out of activity of an eligiblemember.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-18
"Liability or other loss insurance reserves"
Sec. 18. "Liability or other loss insurance reserves" means a fundset aside as a reserve to cover risk retained by the corporation inconnection with a liability claim or other loss.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-19
"Resolution"
Sec. 19. "Resolution" in a provision of this article concerning theissuance of bonds refers to a resolution adopted by the board oftrustees of a state educational institution related to the issuance ofbonds.
As added by P.L.2-2007, SEC.275.
IC 21-34-1-20
"Risk retention group" Sec. 20. "Risk retention group" means a trust, pool, corporation,partnership, or joint venture funded by and owned and operated forthe benefit of more than one (1) eligible member.
As added by P.L.2-2007, SEC.275.