Sec. 3. The board of trustees of each state educational institution shall deposit to the credit of a special fund to be established and designated as the building facilities fund of the board of trustees of the state educational institution or the state educational institution under its control:

(1) all building facilities fees collected by the state educational institution; and

(2) to the extent provided or required by any resolution or trust indenture that is adopted or approved by the board of trustees of the issuing state educational institution, all other fees, income, or funds pledged to secure the payment of bonds, and the interest on the bonds issued under this article.

[Pre-2007 Higher Education Recodification Citation: 20-12-6-5(a) part.]

As added by P.L.2-2007, SEC.275.