Indiana Code 21-35-7-4. Power of state educational institutions to acquire real and personal property

Sec. 4. In addition to any other powers that a state educational institution has, the board of trustees of a state educational institution may:

(1) enter into agreements concerning and to acquire by:

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Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Property: includes personal and real property. See Indiana Code 1-1-4-5

(A) gift;

(B) purchase; or

land or interests in land and personal property needed for the purposes of this chapter;

(2) purchase, lease as lessee or lessor, construct, remodel, rebuild, enlarge, or substantially improve property;

(3) enter into financing agreements, including leasing land or property to users or developers, subject to this chapter; and

(4) enter into agreements with users or developers to allow users or developers to wholly or partially construct and manage property.

[Pre-2007 Higher Education Recodification Citation: 20-12-1.5-3.]

As added by P.L.2-2007, SEC.276.