Introduced Version






SENATE BILL No. 231

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 20-12-8-1.

Synopsis: University bonding authority. Authorizes state universities to erect, construct, reconstruct, extend, remodel, improve, complete, equip, furnish, operate, control, and manage certain research facilities and other facilities that will generate revenue or be paid for by money received from pledges.

Effective: Upon passage.





Meeks R




    January 7, 2002, read first time and referred to Committee on Finance.







Introduced

Second Regular Session 112th General Assembly (2002)


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 2001 General Assembly.

SENATE BILL No. 231



    A BILL FOR AN ACT to amend the Indiana Code concerning education finance.

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

    SECTION 1. IC 20-12-8-1 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 1. (a) The trustees of Indiana University, the trustees of Purdue University, Indiana State University board of trustees, the University of Southern Indiana board of trustees, and the Ball State University board of trustees are authorized and empowered, from time to time, if the governing boards of these corporations find that a necessity exists, to erect, construct, reconstruct, extend, remodel, improve, complete, equip, furnish, operate, control, and manage:
        (1) dormitories and other housing facilities for single and married students and school personnel;
        (2) food service facilities;
        (3) student infirmaries and other health service facilities including revenue-producing hospital facilities serving the general public, together with parking facilities and other appurtenances in connection with any of the foregoing; or
        (4) parking facilities in connection with academic facilities;


         (5) research facilities if:
            (A) the research facilities will generate revenue from state, federal, local, or private gifts, grants, contractual payments, or reimbursements; and
            (B) the revenue is reasonably expected to be equal to or greater than the annual debt service requirements of the bonds for each fiscal year that the bonds are outstanding; or
        (6) other facilities if:
            (A) the corporation has received written pledges for donations for the project; and
            (B) the scheduled payment of the pledges is reasonably expected to be equal to or greater than the annual debt service requirements of the bonds for each fiscal year that the bonds are outstanding;

at or in connection with Indiana University, Purdue University, Indiana State University, the University of Southern Indiana, and Ball State University, for the purposes of the respective institutions. These corporations are also authorized and empowered to acquire, by purchase, lease, condemnation, gift or otherwise, any property, real or personal, that in the judgment of these corporations is necessary for the purposes set forth in this section. The corporations may improve and use any property acquired for the purposes set forth in this section.
    (b) Title to all property so acquired, including the improvements located on the property, shall be taken and held by and in the name of the corporations. If the governing board of any of these corporations determines that real estate, the title to which is in the name of the state, for the use and benefit of the corporation or institution under its control, is reasonably required for any of the purposes set forth in this section, the real estate may, upon request in writing of the governing board of the corporation to the governor of the state and upon the approval of the governor, be conveyed by deed from the state to the corporation. The governor shall be authorized to execute and deliver the deed in the name of the state, signed on behalf of the state by the governor, attested by the auditor of state and with the seal of the state affixed to the deed.
    SECTION 2. An emergency is declared for this act.