§ 21-35-5-5 — Issuance of revenue obligations; use

Indiana § 21-35-5-5

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 35: STATE EDUCATIONAL INSTITUTIONS:
• Ch. 5: Revenue Producing Property; Supplemental Procedures

Text

The board of trustees of a state educational
institution may issue revenue obligations under IC 21-35-2 or IC 21-35-3 for any one (1) or more of the following:
(1) For any purpose or purposes for which IC 21-35-2 or IC 21-35-3 authorizes the borrowing of money.
(2) To reimburse the state educational institution for funds
expended or advanced for interim financing of the cost of any
revenue producing property before the issuance of revenue
obligations on account of revenue producing property.
(3) Subject to applicable covenants and agreements with the
holders of outstanding obligations, to fund or refund revenue
obligations.
If the board of trustees determines that it would be advantageous to the
state educational institution to exchange funding or refunding
obligations for the revenue obligations being funded or refunded, the
exchange may be made, if the actual interest cost is not increased.
[Pre-2007 Higher Education Recodification Citation:
20-12-9-2 part.]

Legislative History

As added by P.L.2-2007, SEC.276. Amended by P.L.3-2008, SEC.142.