IC 21-35-7
    Chapter 7. Revenue Producing Property; Financing AgreementsWith a Developer or User

IC 21-35-7-1
Purpose
    Sec. 1. It is found and declared that:
        (1) there is a need for the development of various facilities toproperly service the various campuses of state educationalinstitutions;
        (2) an additional and alternative method for developing andfinancing facilities should be provided; and
        (3) facilities would provide additional employmentopportunities and would otherwise fulfill the public purposesset forth in IC 36-7-12.
This chapter applies to any state educational institution.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-2
Applicability of chapter
    Sec. 2. This chapter applies to buildings and equipment located onor immediately adjacent to a campus of a state educationalinstitution, the primary purpose of which is to make available orprovide:
        (1) offstreet parking;
        (2) alternative transportation systems;
        (3) office space;
        (4) convenience, retail, and service establishments;
        (5) bookstores;
        (6) research;
        (7) outpatient and extended care;
        (8) food service;
        (9) temporary lodging quarters or similar structures used bystudents, faculty, staff, patients, or visitors; or
        (10) housing used by students in connection with hospitals orhealth care units.
The term does not include undergraduate dormitories.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-3
Supplemental effect of chapter
    Sec. 3. This chapter is supplemental to other laws pertaining tostate educational institutions and does not repeal any other laws orimpair any other powers or responsibilities granted to stateeducational institutions.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-4
Power of state educational institutions to acquire real and personalproperty    Sec. 4. In addition to any other powers that a state educationalinstitution has, the board of trustees of a state educational institutionmay:
        (1) enter into agreements concerning and to acquire by:
            (A) gift;
            (B) purchase; or
            (C) lease;
        land or interests in land and personal property needed for thepurposes of this chapter;
        (2) purchase, lease as lessee or lessor, construct, remodel,rebuild, enlarge, or substantially improve property;
        (3) enter into financing agreements, including leasing land orproperty to users or developers, subject to this chapter; and
        (4) enter into agreements with users or developers to allowusers or developers to wholly or partially construct and manageproperty.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-5
Adoption of resolution to develop property
    Sec. 5. If the board of trustees of a state educational institutiondetermines that it is desirable to develop property under this chapter,the board of trustees shall adopt a resolution finding that:
        (1) the property is needed to adequately furnish services to thestudents, faculty, staff, patients in hospitals or health care unitsoperated by the state educational institution, or visitors tohospitals or health care units operated by the state educationalinstitution; and
        (2) the services are not now being adequately furnished byothers in the immediate area of the campus.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-6
Resolution; contents
    Sec. 6. The resolution under section 5 of this chapter must providethat the plans and specifications for the property and for thedevelopment and management of the property shall be approved bythe board of trustees.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-7
Requirements for management and operation of property
    Sec. 7. If the management and operation of the property are to beby a developer or user, the specifications for the property mustrequire that the property will be generally available to the students,faculty, staff, patients in hospitals or health care units, and visitorsto hospitals or health care units, without discrimination and atreasonable charges. These charges shall be reviewed and revisedperiodically by the board of trustees of the state educationalinstitution to assure that the charges are at all times

nondiscriminatory and reasonable.
As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008,SEC.144.

IC 21-35-7-8
Proposals for the development, use, and management of property
    Sec. 8. The board of trustees of a state educational institution shalltake action to invite proposals for the development, use, andmanagement, if applicable, of property to provide open andcompetitive proposals.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-9
Award for the development, use, and management of property;considerations
    Sec. 9. In making an award for the development, use, andmanagement, if applicable, of property, the board of trustees of astate educational institution may consider:
        (1) the experience and financial ability of a developer or user;
        (2) the plans and specifications for the property;
        (3) the size and cost of the property;
        (4) payments to be made to or from the state educationalinstitution;
        (5) the method of financing and the terms and conditions of anyproposed financing agreement; and
        (6) any other factors of benefit to the state educationalinstitution.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-10
Award for the development, use, and management of property;approval by budget agency and governor
    Sec. 10. An award for the development, use, and management, ifapplicable, of property is not final until:
        (1) approved by the governor and the budget agency, with therecommendation of the budget committee; and
        (2) the notice is provided as specified in section 11 of thischapter.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-11
Notice of determination to make an award
    Sec. 11. (a) A notice of the determination to make an award forthe development, use, and management, if applicable, of propertythat briefly describes:
        (1) the property;
        (2) the purpose of the property; and
        (3) the principal terms of any financing agreement;
shall be published under this section.
    (b) The notice under subsection (a) shall be published in:        (1) two (2) newspapers of general circulation in Indianapolis;
        (2) one (1) newspaper of general circulation in the city wherethe property is to be located; and
        (3) one (1) newspaper of general circulation in the city wherethe principal campus of the state educational institution islocated.
    (c) The notice under subsection (a) must be published once eachweek for two (2) successive weeks.
    (d) An action to contest the validity of any financing agreementmay not be commenced more than thirty (30) days following the lastpublication under this section of notice of the determination to makean award.
As added by P.L.2-2007, SEC.276.

IC 21-35-7-12
Tax exemption
    Sec. 12. All payments received by a state educational institutionunder a financing agreement authorized by this chapter are exemptfrom all taxation.
As added by P.L.2-2007, SEC.276.