2014 Indiana Code TITLE 21. HIGHER EDUCATION ARTICLE 35. STATE EDUCATIONAL INSTITUTIONS: REVENUE BONDS AND OTHER FINANCING ARRANGEMENTS CHAPTER 1. GENERAL PROVISIONS; DEFINITIONS
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IC 21-35
ARTICLE 35. STATE EDUCATIONAL
INSTITUTIONS: REVENUE BONDS AND OTHER
FINANCING ARRANGEMENTS
IC 21-35-1
Chapter 1. General Provisions; Definitions
IC 21-35-1-1
Definitions
Sec. 1. The definitions in this chapter apply throughout this
article.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-2
"Bond"
Sec. 2. "Bond" means the following:
(1) For purposes of IC 21-35-2, any bond evidencing
indebtedness for borrowed money under IC 21-35-2.
(2) For purposes of IC 21-35-3, any bond evidencing
indebtedness for borrowed money under IC 21-35-3.
(3) For purposes of IC 21-35-4, any bond evidencing
indebtedness for borrowed money under IC 21-35-4.
(4) For purposes of IC 21-35-5, any bond evidencing
indebtedness for borrowed money under IC 21-35-5.
(5) For purposes of IC 21-35-6, any:
(A) bonds (including refunding bonds);
(B) notes;
(C) temporary, interim, or permanent certificates of
indebtedness;
(D) debentures; or
(E) other obligations;
evidencing indebtedness for borrowed money under IC 21-35-6.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-3
"Developer"
Sec. 3. "Developer", for purposes of IC 21-35-7, means a for
profit or nonprofit:
(1) person;
(2) firm;
(3) partnership;
(4) limited liability company;
(5) trust;
(6) association; or
(7) corporation;
that enters or proposes to enter into a financing agreement with a
state educational institution for construction of facilities or
management of facilities, or both.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-4
"Facilities"
Sec. 4. "Facilities", for purposes of IC 21-35-7, means buildings
and equipment located on or immediately adjacent to a university
campus, the primary purpose of which is to make available or
provide:
(1) offstreet parking;
(2) alternative transportation systems;
(3) office space;
(4) convenience, retail, and service establishments;
(5) bookstores;
(6) research;
(7) outpatient and extended care;
(8) food service;
(9) temporary lodging quarters or similar structures used by:
(A) students;
(B) faculty;
(C) staff;
(D) patients; or
(E) visitors;
(10) housing used by students in connection with:
(A) hospitals; or
(B) health care units; or
(11) any combination of the buildings and services listed in this
section.
The term does not include undergraduate dormitories.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-5
"Financing"
Sec. 5. "Financing", for purposes of IC 21-35-7, means the
activities listed in IC 21-35-7-4.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-6
"Financing agreement"
Sec. 6. "Financing agreement", for purposes of IC 21-35-7, means
any agreement between a state educational institution and a
developer or user concerning:
(1) the:
(A) acquisition;
(B) construction; or
(C) management;
of facilities;
(2) the:
(A) financing;
(B) leasing; or
(C) possession;
of facilities; or
(3) any combination of the items listed in subdivisions (1) and
(2); and
(4) payments to or from the university in respect of the items
listed in subdivisions (1) and (2).
As added by P.L.2-2007, SEC.276.
IC 21-35-1-7
"Income"
Sec. 7. "Income":
(1) for purposes of IC 21-35-2, with respect to any property,
includes the sum of all mandatory student service fees:
(A) collected for the use of the property; and
(B) assessed against the students of the institution;
to provide security for bonds issued under IC 21-35-2; and
(2) for purposes of IC 21-35-3, with respect to a campus
facility, includes the sum of all mandatory student service fees:
(A) collected for the use of the facility; and
(B) assessed against the students of the institution;
to provide security for bonds issued under IC 21-35-3.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-8
"Net income"
Sec. 8. "Net income" for purposes of IC 21-35-2 and IC 21-35-3,
with respect to any property, means income minus the costs of
operating, maintaining, and repairing the property except when these
costs are otherwise paid.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-9
"Property"
Sec. 9. "Property":
(1) for purposes of IC 21-35-2, means any property that the
board of trustees of a state educational institution is authorized
to finance under IC 21-35-2 and under IC 21-35-5 by the
issuance of bonds, refunding bonds, or advance refunding
bonds;
(2) for purposes of IC 21-35-3, means any property that the
board of trustees of a state educational institution is authorized
to finance under IC 21-35-3 and under IC 21-35-5 by the
issuance of bonds, refunding bonds, or advance refunding
bonds; and
(3) for purposes of IC 21-35-5, means any property that the
board of trustees of a state educational institution is authorized
to finance by the issuance of revenue obligations issued under
IC 21-35-5.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-10
"Research facility"
Sec. 10. "Research facility", for purposes of IC 21-35-3, refers to
property described in IC 21-35-3-2(2).
As added by P.L.2-2007, SEC.276.
IC 21-35-1-11
"Revenue obligations"
Sec. 11. "Revenue obligations", for purposes of IC 21-35-5, means
any obligations, including:
(1) bonds;
(2) notes;
(3) temporary, interim, or permanent certificates of
indebtedness;
(4) debentures; or
(5) other obligations;
payable out of revenues derived from properties described in
IC 21-35-5.
As added by P.L.2-2007, SEC.276.
IC 21-35-1-12
"Support facility"
Sec. 12. "Support facility", for purposes of IC 21-35-3, refers to
property described in IC 21-35-3-2(1).
As added by P.L.2-2007, SEC.276.
IC 21-35-1-13
"User"
Sec. 13. "User", for purposes of IC 21-35-7, means any of the
following that has entered into a financing agreement with a state
educational institution or developer in contemplation of the user's use
of the facilities referred to in the agreement:
(1) A person.
(2) A firm.
(3) A partnership.
(4) A limited liability company.
(5) A trust.
(6) An association.
(7) A corporation.
As added by P.L.2-2007, SEC.276.
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