IC 21-32-2
Chapter 2. Temporary Borrowings; Loans; Lines of Credit; Credit
Facilities
IC 21-32-2-1 Supplemental powers
Sec. 1. The powers of a state educational institution under this
chapter are in addition to all other powers of the state educational
institution 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 the
following:
(1) Borrow funds on a temporary basis in anticipation of the
issuance of long term obligations.
(2) Use the proceeds of a temporary borrowing for any purpose
for which the institution could issue or incur obligations under
IC 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 any
other 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 the
following:
(A) The adoption of a resolution.
(B) The approval of a form of indenture between the state
educational 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 the
state 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 educational
institution 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 bonds
or notes
Sec. 4. A state educational institution may pledge and assign for
the benefit of holders of:
(1) temporary obligations; or
(2) a credit facility;
under this chapter any security that the state educational institution
may pledge and assign for the payment of bonds or notes under
IC 21-34, IC 21-35-2, IC 21-35-3, or IC 21-35-5. As added by P.L.2-2007, SEC.273.
IC 21-32-2
Chapter 2. Temporary Borrowings; Loans; Lines of Credit; Credit
Facilities
IC 21-32-2-1 Supplemental powers
Sec. 1. The powers of a state educational institution under this
chapter are in addition to all other powers of the state educational
institution 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 the
following:
(1) Borrow funds on a temporary basis in anticipation of the
issuance of long term obligations.
(2) Use the proceeds of a temporary borrowing for any purpose
for which the institution could issue or incur obligations under
IC 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 any
other 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 the
following:
(A) The adoption of a resolution.
(B) The approval of a form of indenture between the state
educational 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 the
state 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 educational
institution 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 bonds
or notes
Sec. 4. A state educational institution may pledge and assign for
the benefit of holders of:
(1) temporary obligations; or
(2) a credit facility;
under this chapter any security that the state educational institution
may pledge and assign for the payment of bonds or notes under
IC 21-34, IC 21-35-2, IC 21-35-3, or IC 21-35-5. As added by P.L.2-2007, SEC.273.
IC 21-32-2
Chapter 2. Temporary Borrowings; Loans; Lines of Credit; Credit
Facilities
IC 21-32-2-1 Supplemental powers
Sec. 1. The powers of a state educational institution under this
chapter are in addition to all other powers of the state educational
institution 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 the
following:
(1) Borrow funds on a temporary basis in anticipation of the
issuance of long term obligations.
(2) Use the proceeds of a temporary borrowing for any purpose
for which the institution could issue or incur obligations under
IC 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 any
other 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 the
following:
(A) The adoption of a resolution.
(B) The approval of a form of indenture between the state
educational 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 the
state 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 educational
institution 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 bonds
or notes
Sec. 4. A state educational institution may pledge and assign for
the benefit of holders of:
(1) temporary obligations; or
(2) a credit facility;
under this chapter any security that the state educational institution
may pledge and assign for the payment of bonds or notes under
IC 21-34, IC 21-35-2, IC 21-35-3, or IC 21-35-5. As added by P.L.2-2007, SEC.273.
