Title 21, HIGHER EDUCATION

Sec. 7. ARTICLE VI. ELIGIBLE PARTIES AND ENTRY INTO FORCE. (a) The states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin are eligible to become party to this Compact. Additional states are eligible if a…

Sec. 8. ARTICLE VII. WITHDRAWAL, DEFAULT, AND TERMINATION. (a) Any compacting state may withdraw from this Compact by enacting a statute repealing the Compact, but such withdrawal shall not become effective until two (2) years after the enactment of such statute. A withdrawing st…

Sec. 9. ARTICLE VIII. SEVERABILITY AND CONSTRUCTION. The provisions of this Compact entered into hereunder shall be severable and if any phrase, clause, sentence, or provision of this Compact is declared to be contrary to the constitution of any compacting state or of the United …

Sec. 1. This chapter applies notwithstanding any other law. This chapter shall be liberally construed. [Pre-2007 Higher Education Recodification Citation: 20-12-1.3-1.] As added by P.L.2-2007, SEC.270.

Sec. 2. This chapter shall not be construed as limiting or restricting the investment powers otherwise provided state educational institutions, including the power to adopt and implement investment policies under IC 21-29-2-1 and IC 21-29-2-2. [Pre-2007 Higher Education Recodific…

Sec. 3. (a) Subject to subsections (b) through (d), any state educational institution may enter into and modify, amend, or terminate one (1) or more swap agreements that the state educational institution determines to be necessary or desirable in connection with or incidental to …

Sec. 4. With regard to entering into any swap agreement, the state educational institution may enter into credit enhancement or liquidity agreements with payment, security, default, remedy, and other terms and conditions as determined by the state educational institution. [Pre-20…

Sec. 5. (a) This section does not apply in cases of bad faith or actual knowledge to the contrary by a party. (b) A party that enters into any swap agreement with a state educational institution may rely on a representation by that state educational institution that the state edu…

Sec. 1. This chapter applies to the boards of trustees of the following state educational institutions: (1) Indiana University. (2) Purdue University. (3) Indiana State University. (4) University of Southern Indiana. (5) Ball State University. [Pre-2007 Higher Education Recodific…

Sec. 2. The board of trustees of a state educational institution may accept gifts, bequests, and devises of personal and real property: (1) for the maintenance, use, or benefit of the state educational institution; or (2) to be administered for other public, charitable purposes f…

Sec. 3. The board of trustees of a state educational institution may receive, accept, hold, administer, and use any property transferred to the board of trustees by gift, bequest, or devise, with the terms, conditions, obligations, liabilities, and burdens imposed on the gift, be…

Sec. 4. (a) Subject to subsection (b), if a gift, devise, or bequest is made for the purpose of providing an annuity, the gift, devise, or bequest may be accepted by the board of trustees on condition that the state educational institution: (1) pay to the donor, for the life of t…

Sec. 5. (a) To secure the payment of annuities, granted under this chapter, the property comprised in the gift, devise, or bequest may be pledged by way of mortgage or otherwise to the annuitant or annuitants for the full period of the life of the annuity or annuities. (b) Proper…

Sec. 1. The board of trustees of Indiana University shall annually appoint a committee from the members of the board of trustees to examine Indiana University buildings and grounds. The committee shall report the kind and cost of repairs, if any are needed. A member of the facult…

Sec. 2. The board of trustees of Vincennes University shall visit and inspect Vincennes University. [Pre-2007 Higher Education Recodification Citation: 23-13-18-8(6).] As added by P.L.2-2007, SEC.272.

Sec. 1. A state educational institution with power to issue bonds may sell bonds at public or negotiated sale: (1) for the price or prices; (2) in the manner; and (3) at the time or times; determined by the state educational institution. [Pre-2007 Higher Education Recodification …

Sec. 2. A state educational institution may not sell bonds: (1) for less than ninety percent (90%); or (2) with an underwriter's discount that exceeds three percent (3%); of the par value of the bonds. [Pre-2007 Higher Education Recodification Citation: 4-1-5-1(a) part.] As added…

Sec. 3. (a) A state educational institution that determines to sell bonds at public sale shall give notice under subsection (b) or (c). (b) A state educational institution that gives notice under this subsection shall: (1) publish the notice once each week for two (2) weeks in: (…

Sec. 4. (a) This section applies when notice is given under section 3 of this chapter for a public sale. (b) The treasurer of the state educational institution: (1) shall cause each person furnishing the information required under section 3(c) of this chapter to be notified of th…

Sec. 5. A state educational institution shall award bonds sold at public sale to the bidder offering the lowest interest cost to be determined by: (1) computing the total interest on the bonds from the date of the sale to the date of maturity; and (2) either: (A) deducting from t…

Sec. 6. If no acceptable bid is received at the time fixed for sale of the bonds at a public sale, the state educational institution: (1) may continue the sale from day to day for a period not to exceed thirty (30) days without readvertising; and (2) may not accept a bid during t…

Sec. 7. (a) As used in this section, "check" includes electronic transfer by wire transfer or other similar means. (b) A state educational institution may not: (1) accept a bid for the bonds, other than a bid submitted by the federal government or any agency of the federal govern…

Sec. 8. Before the delivery of the bonds to a successful bidder at a public sale, other than the federal government or any agency of the federal government, the bidder shall cause to be filed with the secretary of state before the published date of sale a sworn affidavit that: (1…

Sec. 9. This chapter is not applicable to bonds advertised for sale or sold or contracted to be sold before March 13, 1959. [Pre-2007 Higher Education Recodification Citation: 4-1-5-5.] As added by P.L.2-2007, SEC.273.

Sec. 1. This chapter applies to all state educational institutions. [Pre-2007 Higher Education Recodification Citation: 20-12-5.5-1 part.] As added by P.L.2-2007, SEC.274.

Sec. 10. The general assembly may appropriate fee replacement money for the replacement of student fees dedicated to pay: (1) the principal and interest costs of bonds as approved by the general assembly; and (2) lease-purchase costs. [Pre-2007 Higher Education Recodification Cit…

Sec. 11. Each state educational institution shall submit a report by April 1 of each year to the budget committee and the commission for higher education listing each capital project of the state educational institution for the immediately preceding full calendar year: (1) the co…

Sec. 2. This chapter applies to the following property: (1) Land. (2) Buildings. (3) Facilities. (4) Equipment. [2007 Higher Education Recodification Citation: New.] As added by P.L.2-2007, SEC.274.

Sec. 3. (a) The commission for higher education shall complete a review of a project approved or authorized by the general assembly. (b) This subsection does not apply to a project approved or authorized by the general assembly for which a state appropriation will be used. The co…

Sec. 4. (a) The budget agency may refer to the budget committee budgetary and fiscal matters under this chapter for which it would like an advisory recommendation. (b) If a matter is referred to the budget committee, the budget committee: (1) shall hold hearings; (2) may exercise…

Sec. 5. (a) Subject to this section, in addition to projects authorized by the general assembly, the board of trustees of a state educational institution may engage in a project to: (1) construct buildings or facilities of a cost greater than three million dollars ($3,000,000); o…

Sec. 6. (a) Subject to subsection (b), in addition to projects authorized by the general assembly, the board of trustees of a state educational institution may engage in a repair and rehabilitation project for which: (1) the cost of the project exceeds three million dollars ($3,0…

Sec. 7. In addition to projects authorized by the general assembly, the board of trustees of a state educational institution may engage in a project: (1) to lease, other than a project to lease-purchase, a building or facility; and (2) for which the annual cost of the project exc…

Sec. 8. The cost of any project authorized under this chapter includes the following: (1) The estimated cost of architectural, engineering, and consulting services. (2) The estimated cost of the construction and any repair and rehabilitation project. (3) The purchase price of any…

Sec. 9. To pay the cost of a project authorized under this chapter, the following funds may be used: (1) Funds appropriated in any state fiscal year for the project by the general assembly, subject to allocation of the funds by the budget agency, with approval of the governor. (2…

Sec. 1. The board of trustees of a state educational institution may, as the board of trustees finds necessary, acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, enlarge, equip, furnish, and operate building facilities for: (1) carr…

Sec. 2. A building facility may be located at any place within Indiana at which the board of trustees of a state educational institution determines the need exists for the building facilities. [Pre-2007 Higher Education Recodification Citation: 20-12-6-1 part.] As added by P.L.2-…

Sec. 3. The board of trustees of a state educational institution may acquire, erect, construct, reconstruct, improve, rehabilitate, remodel, repair, complete, extend, enlarge, furnish, and operate any equipment that the board of trustees of a state educational institution conside…

Sec. 4. (a) The board of trustees of a state educational institution may: (1) acquire, under this article or any other applicable law, by: (A) purchase (for cash or on contract); (B) lease or sublease for a period not exceeding forty (40) years that the board of trustees approves…

Sec. 4.5. Notwithstanding section 4(a)(1)(B) of this chapter, the board of trustees of a state educational institution may acquire and improve, under this article or any other applicable law, real property (improved or unimproved) by lease or sublease for a period exceeding forty…

Sec. 5. Except as otherwise provided in IC 21-34-4, title to all property acquired, including improvements on acquired property, must be taken and held by and in the name of the board of trustees in its corporate capacity for the purposes of this article. The board of trustees of…

Sec. 6. (a) A lessor leasing fifty percent (50%) or more of a building facility or building facilities: (1) to a state educational institution or to more than one (1) state educational institution jointly pursuant to sections 4 and 5 of this chapter for a term of five (5) years o…

Sec. 7. (a) If the board of trustees of a state educational institution determines to locate a building facility upon real estate, the title to which is in the name of the state of Indiana for the use and benefit of: (1) the board of trustees of the state educational institution;…

Sec. 1. This chapter applies to the following state educational institutions: (1) Ball State University. (2) Indiana University. (3) Indiana State University. (4) Purdue University. (5) University of Southern Indiana. [Pre-2007 Higher Education Recodification Citation: 20-12-8-1(…

Sec. 10. Title to all property acquired by a state educational institution, including the improvements located on the property, shall be taken and held by and in the name of the state educational institution. [Pre-2007 Higher Education Recodification Citation: 20-12-8-1(d) part.]…

Sec. 11. (a) If the board of trustees of any state educational institution determines that real estate, the title to which is in the name of the state, for the use and benefit of the board of trustees or the state educational institution under the board's control, is reasonably r…