IC 21-34 ARTICLE 34. STATE EDUCATIONAL
INSTITUTIONS: ACQUISITION AND IMPROVEMENT
OF 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 a
state educational institution is authorized to acquire, construct, or
finance 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 Indiana
law in effect on March 10, 1965, but is supplemental to the laws of
this 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 contracts
executed 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 this
article. 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 of
indebtedness;
(4) debentures; or
(5) other obligations;
evidencing indebtedness for borrowed money under this article. The
term does not include installment contracts or similar instruments
under 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 an
item described in subdivision (1) (including facilities for the
production and transmission of heat, light, water and power,
sewage disposal facilities, streets and walks, and parking
facilities).
(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 fee
imposed 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 facilities
fund 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 of
all lands, structures, real or personal property, rights,
rights-of-way, franchises, easements, and interests acquired or
used under this article.
(2) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of acquiring
any 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 construction
or acquisition;
(4) the reserves for debt service and for extensions,
enlargements, additions, replacements, renovations, and
improvements 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, and
estimates of cost and of revenues;
(8) the administrative expenses, expenses necessary or incident
to determining the feasibility or practicability of any
undertaking under this article; and
(9) other expenses as may be necessary or incident to the
construction, acquisition, and the financing of any undertaking
under 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 educational
institution to be used to pay indebtedness resulting from financing
the 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 and
instructional 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 agreement
or written agreements for a grant or gift from any one (1) or more of
the 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 the
money is provided for the purpose of acquisition, improvement,
renovation, or construction of building facilities that a state
educational 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 into
under 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 to
evidence 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 article
for 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 use
of 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 (including
costs of defense, legal costs and fees, and other claims expenses)
because of injuries to other persons or entities, damage to their
property or business, or other damage or loss to those persons or
entities resulting from or arising out of activity of an eligible
member. 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 fund
set aside as a reserve to cover risk retained by the corporation in
connection 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 the
issuance of bonds refers to a resolution adopted by the board of
trustees of a state educational institution related to the issuance of
bonds. 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 for
the benefit of more than one (1) eligible member. As added by P.L.2-2007, SEC.275.
IC 21-34 ARTICLE 34. STATE EDUCATIONAL
INSTITUTIONS: ACQUISITION AND IMPROVEMENT
OF 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 a
state educational institution is authorized to acquire, construct, or
finance 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 Indiana
law in effect on March 10, 1965, but is supplemental to the laws of
this 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 contracts
executed 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 this
article. 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 of
indebtedness;
(4) debentures; or
(5) other obligations;
evidencing indebtedness for borrowed money under this article. The
term does not include installment contracts or similar instruments
under 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 an
item described in subdivision (1) (including facilities for the
production and transmission of heat, light, water and power,
sewage disposal facilities, streets and walks, and parking
facilities).
(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 fee
imposed 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 facilities
fund 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 of
all lands, structures, real or personal property, rights,
rights-of-way, franchises, easements, and interests acquired or
used under this article.
(2) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of acquiring
any 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 construction
or acquisition;
(4) the reserves for debt service and for extensions,
enlargements, additions, replacements, renovations, and
improvements 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, and
estimates of cost and of revenues;
(8) the administrative expenses, expenses necessary or incident
to determining the feasibility or practicability of any
undertaking under this article; and
(9) other expenses as may be necessary or incident to the
construction, acquisition, and the financing of any undertaking
under 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 educational
institution to be used to pay indebtedness resulting from financing
the 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 and
instructional 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 agreement
or written agreements for a grant or gift from any one (1) or more of
the 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 the
money is provided for the purpose of acquisition, improvement,
renovation, or construction of building facilities that a state
educational 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 into
under 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 to
evidence 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 article
for 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 use
of 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 (including
costs of defense, legal costs and fees, and other claims expenses)
because of injuries to other persons or entities, damage to their
property or business, or other damage or loss to those persons or
entities resulting from or arising out of activity of an eligible
member. 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 fund
set aside as a reserve to cover risk retained by the corporation in
connection 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 the
issuance of bonds refers to a resolution adopted by the board of
trustees of a state educational institution related to the issuance of
bonds. 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 for
the benefit of more than one (1) eligible member. As added by P.L.2-2007, SEC.275.
IC 21-34 ARTICLE 34. STATE EDUCATIONAL
INSTITUTIONS: ACQUISITION AND IMPROVEMENT
OF 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 a
state educational institution is authorized to acquire, construct, or
finance 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 Indiana
law in effect on March 10, 1965, but is supplemental to the laws of
this 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 contracts
executed 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 this
article. 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 of
indebtedness;
(4) debentures; or
(5) other obligations;
evidencing indebtedness for borrowed money under this article. The
term does not include installment contracts or similar instruments
under 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 an
item described in subdivision (1) (including facilities for the
production and transmission of heat, light, water and power,
sewage disposal facilities, streets and walks, and parking
facilities).
(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 fee
imposed 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 facilities
fund 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 of
all lands, structures, real or personal property, rights,
rights-of-way, franchises, easements, and interests acquired or
used under this article.
(2) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of acquiring
any 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 construction
or acquisition;
(4) the reserves for debt service and for extensions,
enlargements, additions, replacements, renovations, and
improvements 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, and
estimates of cost and of revenues;
(8) the administrative expenses, expenses necessary or incident
to determining the feasibility or practicability of any
undertaking under this article; and
(9) other expenses as may be necessary or incident to the
construction, acquisition, and the financing of any undertaking
under 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 educational
institution to be used to pay indebtedness resulting from financing
the 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 and
instructional 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 agreement
or written agreements for a grant or gift from any one (1) or more of
the 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 the
money is provided for the purpose of acquisition, improvement,
renovation, or construction of building facilities that a state
educational 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 into
under 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 to
evidence 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 article
for 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 use
of 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 (including
costs of defense, legal costs and fees, and other claims expenses)
because of injuries to other persons or entities, damage to their
property or business, or other damage or loss to those persons or
entities resulting from or arising out of activity of an eligible
member. 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 fund
set aside as a reserve to cover risk retained by the corporation in
connection 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 the
issuance of bonds refers to a resolution adopted by the board of
trustees of a state educational institution related to the issuance of
bonds. 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 for
the benefit of more than one (1) eligible member. As added by P.L.2-2007, SEC.275.
