CHAPTER 5. BUILDING FACILITIES FEES; BUILDING FACILITIES FUND

IC 21-34-5
    Chapter 5. Building Facilities Fees; Building Facilities Fund

IC 21-34-5-1
Authority to collect building facilities fees
    Sec. 1. In order to:
        (1) provide funds with which to pay part or all of the cost of anybuilding facility, work, act, or undertaking authorized byIC 21-34-2, IC 21-34-3-1, or IC 21-34-3-3;
        (2) pay part or all of the cost of acquiring real or personalproperty by purchase, lease, sublease, condemnation, trade orexchange, or otherwise as provided in section IC 21-34-3-4;
        (3) pay part or all of the cost of improving any of the property;
        (4) pay the principal of and interest on bonds issued under thisarticle; or
        (5) perform the obligations of any joint-use agreements madeunder IC 21-34-4;
the board of trustees of a state educational institution may, asnecessary, fix, charge, and collect a building facilities fee or fees.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-2
Collection of building facilities fees
    Sec. 2. A building facilities fee may be collected from:
        (1) the students attending the state educational institution andthe various divisions of the state educational institution; and
        (2) other persons enjoying the use of the facilities of the stateeducational institution and the divisions of the state educationalinstitution.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-3
Building facilities fund
    Sec. 3. The board of trustees of each state educational institutionshall deposit to the credit of a special fund to be established anddesignated as the building facilities fund of the board of trustees ofthe state educational institution or the state educational institutionunder its control:
        (1) all building facilities fees collected by the state educationalinstitution; and
        (2) to the extent provided or required by any resolution or trustindenture that is adopted or approved by the board of trusteesof the issuing state educational institution, all other fees,income, or funds pledged to secure the payment of bonds, andthe interest on the bonds issued under this article.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-4
Building facilities fund; use
    Sec. 4. Each building facilities fund may be used only:        (1) for the purposes stated in section 1 of this chapter; and
        (2) in connection with the issuance of bonds under this article.
The uses may be further limited by the provisions stated in aresolution or a trust indenture that is adopted or approved by theboard of trustees of the issuing state educational institution.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-5
Building facilities fund; deposits
    Sec. 5. (a) The board of trustees of a state educational institutionmay:
        (1) deposit to the credit of the building facilities funds of thestate educational institution; or
        (2) use for any of the purposes of this article without making adeposit in the building facilities funds;
any other funds from any source that may be available for any of thepurposes of the building facilities funds from whatever sourcederived.
    (b) The funds subject to subsection (a) include the following:
        (1) Student tuition and other fees, earnings, charges, rentals,interest on permanent endowment funds or other interest, orother income.
        (2) Gifts or grants from the federal government or any federalagency or instrumentality or any public or private corporation,association, or person.
        (3) State appropriations made specifically for any of thepurposes of this article.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-6
Building facilities fees
    Sec. 6. The building facilities fees and any other funds that aredeposited to the credit of the respective building facilities funds areappropriated to the state educational institution for the uses providedin this article without the necessity for any future appropriations.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-7
Investments
    Sec. 7. The money in the building facilities funds may beaccumulated and held by a state educational institution for purposesof this article and invested by a state educational institution pendingthe use of the money. Interest, dividends, or gains resulting frominvestments must be credited to the building facilities funds.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-8
Issuance of bonds
    Sec. 8. If bonds are issued in anticipation of the collection ofbuilding facilities fees, the issuing board of trustees of a state

educational institution shall fix, charge, and collect the buildingfacilities fees in amounts sufficient, together with other availablefunds, to pay the interest on and the principal of the bonds, inaccordance with the terms of the bonds, so long as any of the bondsare outstanding.
As added by P.L.2-2007, SEC.275.

IC 21-34-5-9
Board; powers and duties
    Sec. 9. The board of trustees of each state educational institutionthat is a party to a joint use agreement shall:
        (1) fix, charge, and collect its own building facilities fees; and
        (2) establish, hold, invest, and use its own building facilitiesfund.
The board of trustees may use the building facilities fees and themoney in the building facilities fund and any other available fundsto pay its portion of the cost of the joint building facility as providedin the joint use agreement. The board of trustees of a stateeducational institution may not have any authority or responsibilitywith respect to the building facilities fees or fund of any other stateeducational institution.
As added by P.L.2-2007, SEC.275.