Indiana § 21-36-4-4 Approval of agreement to monetize a capital asset; conditions

Indiana Statutes

§ 21-36-4-4 — Approval of agreement to monetize a capital asset; conditions

Indiana·Title 21 HIGHER EDUCATION·Art. 36 STATE EDUCATIONAL INSTITUTIONS:·Ch. 4 Monetizing Capital Assets

Before the board of trustees of a state educational institution may enter into an agreement with a third party to monetize a capital asset, the proposed principal terms of the agreement (including an estimated amount of the monetization proceeds) must be approved by the governor and the budget agency, after the recommendation of the budget committee, if the agreement will have:

(1)an annual transactional value that exceeds one million dollars ($1,000,000);

(2)a total transactional value that exceeds five million dollars ($5,000,000); or

(3)a term, including the initial term and any renewal terms, that exceeds ten (10) years.

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Before the board of trustees of a state
educational institution may enter into an agreement with a third party
to monetize a capital asset, the proposed principal terms of the
agreement (including an estimated amount of the monetization
proceeds) must be approved by the governor and the budget agency,
after the recommendation of the budget committee, if the agreement
will have:
(1) an annual transactional value that exceeds one million dollars
($1,000,000);
(2) a total transactional value that exceeds five million dollars
($5,000,000); or
(3) a term, including the initial term and any renewal terms, that
exceeds ten (10) years.

Indiana § 21-36-4-4 (Approval of agreement to monetize a capital asset; conditions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.