Second Regular Session 112th General Assembly (2002)


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     HOUSE ENROLLED ACT No. 1355



     AN ACT concerning education finance.

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

SOURCE: ; (02)HE1355.1.1. -->     SECTION 1. [EFFECTIVE JULY 1, 2002] (a) Subject to subsection (b), the board of 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 following project as long as the sum of principal costs of any bonds issued does not exceed the total authority listed below. The principal costs of the bonds include all acquisition, installation, planning, and other related costs. Interest and financing charges, costs, and expenses may also be financed as part of the bond issue in amounts that may be in addition to the total authority listed below. The trustees are further authorized to pledge any available funds not otherwise encumbered as may be required to secure repayment of the bonds, together with interest and financing charges, costs, and expenses.
        PURDUE UNIVERSITY
            West Lafayette Campus
                for Nanotechnologies/Life Sciences
                    Research Facility
$24,000,000

The above project must be repaid from operating funds and is not eligible for fee replacement appropriations.
    (b) The issuance of bonds under this SECTION is subject to the approval of the budget agency after review by the budget committee. The budget agency may not approve a bond issue under

this SECTION unless the board of trustees of Purdue University provides evidence of a commitment by the federal government to make federal funds available for the project.


HEA 1355 _ Concur

Figure

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