Indiana Code 21-34-5-1. Authority to collect building facilities fees
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Sec. 1. In order to:
(2) pay part or all of the cost of acquiring real or personal property by purchase, lease, sublease, condemnation, trade or exchange, or otherwise as provided in section IC 21-34-3-4;
(1) provide funds with which to pay part or all of the cost of any building facility, work, act, or undertaking authorized by IC 21-34-2, IC 21-34-3-1, or IC 21-34-3-3;
Terms Used In Indiana Code 21-34-5-1
- 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
(3) pay part or all of the cost of improving any of the property;
(4) pay the principal of and interest on bonds issued under this article; or
(5) perform the obligations of any joint-use agreements made under IC 21-34-4;
the board of trustees of a state educational institution may, as necessary, fix, charge, and collect a building facilities fee or fees.
[Pre-2007 Higher Education Recodification Citation: 20-12-6-4 part.]
As added by P.L.2-2007, SEC.275.