Indiana § 21-34-3-4 Authority to acquire or improve real and personal property

Indiana Statutes

§ 21-34-3-4 — Authority to acquire or improve real and personal property

Indiana·Title 21 HIGHER EDUCATION·Art. 34 STATE EDUCATIONAL INSTITUTIONS:·Ch. 3 Building Facilities, Equipment, Land

(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;

(C)condemnation;

(D)trade or exchange;

(E)gift, devise, or bequest; or

(F)other means; and

(2)improve; real property (improved or unimproved) and personal property that the board of trustees determines necessary for the purposes set forth in subsection (b) on the terms and conditions and subject to the liens and encumbrances that the board of trustees approves.

(b)Any action may be taken under subsection (a) that the board of trustees of the state educational institution considers necessary for:

(1)carrying on the

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(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;
(C) condemnation;
(D) trade or exchange;
(E) gift, devise, or bequest; or
(F) other means; and
(2) improve;
real property (improved or unimproved) and personal property that the
board of trustees determines necessary for the purposes set forth in
subsection (b) on the terms and conditions and subject to the liens and
encumbrances that the board of trustees approves.
(b) Any action may be taken under subsection (a) that the board of
trustees of the state educational institution considers necessary for:
(1) carrying on the educational research, the public service
programs, or the statutory responsibilities of the state educational
institution and the various divisions of the state educational
institution under the jurisdiction of the board of trustees; or
(2) managing, operating, or servicing the state educational
institution.
[Pre-2007 Higher Education Recodification Citation:
20-12-6-2(a).]

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