Indiana Code 21-36-4-4. Approval of agreement to monetize a capital asset; conditions
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Sec. 4. Before the board of trustees of a state educational institution may enter into an agreement with a third party to monetize a capital asset, the proposed principal terms of the agreement (including an estimated amount of the monetization proceeds) must be approved by the governor and the budget agency, after the recommendation of the budget committee, if the agreement will have:
(2) a total transactional value that exceeds five million dollars ($5,000,000); or
(1) an annual transactional value that exceeds one million dollars ($1,000,000);
Terms Used In Indiana Code 21-36-4-4
- monetize: refers to an exchange of part or all of the possession and control of a capital asset or security of a state educational institution, without a transfer of ownership, for a period of time in return for cash or future revenue as specified in a written agreement between the state educational institution and a third party. See Indiana Code 21-36-4-3
(3) a term, including the initial term and any renewal terms, that exceeds ten (10) years.
As added by P.L.205-2013, SEC.335.