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.
West Lafayette Campus
for Nanotechnologies/Life Sciences
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
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