January 28, 2000






SENATE BILL No. 245

_____


DIGEST OF SB 245 (Updated January 27, 2000 1:18 PM - DI 44)



Citations Affected: Noncode.

Synopsis: Purdue University bonding authorization. Provides that the maximum amount of bonds that may be issued for the Purdue Memorial Union project is $9,500,000 (instead of providing that the cost of the project may not exceed $9,500,000). Eliminates a provision concerning bonding authority for the recreation-gymnasium project at the West Lafayette campus.

Effective: Upon passage.





Mills, Simpson




    January 10, 2000, read first time and referred to Committee on Finance.
    January 27, 2000, amended, reported favorably _ Do Pass.






January 28, 2000

Second Regular Session 111th General Assembly (2000)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 1999 General Assembly.

SENATE BILL No. 245



    A BILL FOR AN ACT concerning university bonds.

Be it enacted by the General Assembly of the State of Indiana:

    SECTION 1. P.L.273-1999, SECTION 39, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: (a) The trustees of Purdue University may issue and sell bonds under IC 20-12-6, subject to the approvals required by IC 20-12-5.5, in an amount not to exceed nine million five hundred thousand dollars ($9,500,000) for the purpose of constructing, remodeling, renovating, furnishing, and equipping the Purdue Memorial Union project at the West Lafayette campus. However, the trustees of Purdue University may not issue and sell bonds under IC 20-12-6 if the cost of the Purdue Memorial Union project exceeds nine million five hundred thousand dollars ($9,500,000).
    (b) Bonding authority granted by this SECTION is not eligible for fee replacement appropriations.
    (c) The construction and operation by Purdue University of the following facilities is authorized and approved:
        (1) Fort Wayne campus parking garage number one (1) - $4,870,000.
        (2) Fort Wayne campus parking garage number two (2) -

$7,200,000.
The projects approved under this subsection are financed through lease-purchase arrangements. No bonding authority is approved and the projects are not eligible for fee replacement.
    (d) Notwithstanding P.L.260-1997(ss), SECTION 32, the trustees of the University of Southern Indiana may issue and sell bonds under IC 20-12-6, subject to the approvals required by IC 20-12-5.5 for the wellness/fitness recreational facility, so long as the costs of acquiring, constructing, remodeling, renovating, furnishing, or equipping the project financed by any series of bonds issued does not exceed four million two hundred thousand dollars ($4,200,000). This project is not eligible for fee replacement.
    (e) The trustees of Purdue University may issue and sell bonds under IC 20-12-6, subject to the approvals required by IC 20-12-5.5, for the purpose of constructing, remodeling, renovating, furnishing, and equipping the Recreation Gymnasium project ($5,000,000) at the West Lafayette campus. The projects approved under this subsection are financed through lease-purchase arrangements. No bonding authority is approved and the projects are not eligible for fee replacement.
    SECTION 2. An emergency is declared for this act.