Ind. Code ch. 21-35-1

in effect

Ind. Code § 21-35-1-1 Definitions

Sec. 1. The definitions in this chapter apply throughout this article. [2007 Higher Education Recodification Citation: New.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-2 "Bond"

Sec. 2. "Bond" means the following: (1) For purposes of IC 21-35-2, any bond evidencing indebtedness for borrowed money under IC 21-35-2. (2) For purposes of IC 21-35-3, any bond evidencing indebtedness for borrowed money under IC 21-35-3. (3) For purposes of IC 21-35-4, any bond evidencing indebtedness for borrowed money under IC 21-35-4. (4) For purposes of IC 21-35-5, any bond evidencing indebtedness for borrowed money under IC 21-35-5. (5) For purposes of IC 21-35-6, any: (A) bonds (including refunding bonds); (B) notes; (C) temporary, interim, or permanent certificates of indebtedness; (D) debentures; or (E) other obligations; evidencing indebtedness for borrowed money under IC 21-35-6. [Pre-2007 Higher Education Recodification Citations: 23-13-18-20; New.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-3 "Developer"

Sec. 3. "Developer", for purposes of IC 21-35-7, means a for profit or nonprofit: (1) person; (2) firm; (3) partnership; (4) limited liability company; (5) trust; (6) association; or (7) corporation; that enters or proposes to enter into a financing agreement with a state educational institution for construction of facilities or management of facilities, or both. [Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 part.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-4 "Facilities"

Sec. 4. "Facilities", for purposes of IC 21-35-7, means buildings and equipment located on or immediately adjacent to a university campus, the primary purpose of which is to make available or provide: (1) offstreet parking; (2) alternative transportation systems; (3) office space; (4) convenience, retail, and service establishments; (5) bookstores; (6) research; (7) outpatient and extended care; (8) food service; (9) temporary lodging quarters or similar structures used by: (A) students; (B) faculty; (C) staff; (D) patients; or (E) visitors; (10) housing used by students in connection with: (A) hospitals; (B) health care units; (C) dormitories; or (D) other residence facilities; (11) academic instruction; or (12) any combination of the buildings and services listed in this section. [Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 part.] As added by P.L.2-2007, SEC.276. Amended by P.L.165-2016, SEC.18.

Ind. Code § 21-35-1-5 "Financing"

Sec. 5. "Financing", for purposes of IC 21-35-7, means the activities listed in IC 21-35-7-4. [Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 part.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-6 "Financing agreement"

Sec. 6. "Financing agreement", for purposes of IC 21-35-7, means any agreement between a state educational institution and a developer or user concerning: (1) the: (A) acquisition; (B) construction; or (C) management; of facilities; (2) the: (A) financing; (B) leasing; or (C) possession; of facilities; or (3) any combination of the items listed in subdivisions (1) and (2); and (4) payments to or from the university in respect of the items listed in subdivisions (1) and (2). [Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 part.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-7 "Income"

Sec. 7. "Income": (1) for purposes of IC 21-35-2, with respect to any property, includes the sum of all mandatory student service fees: (A) collected for the use of the property; and (B) assessed against the students of the institution; to provide security for bonds issued under IC 21-35-2; and (2) for purposes of IC 21-35-3, with respect to a campus facility, includes the sum of all mandatory student service fees: (A) collected for the use of the facility; and (B) assessed against the students of the institution; to provide security for bonds issued under IC 21-35-3. [Pre-2007 Higher Education Recodification Citations: 20-12-7-1.2; 20-12-8-1.2.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-8 "Net income"

Sec. 8. "Net income" for purposes of IC 21-35-2 and IC 21-35-3, with respect to any property, means income minus the costs of operating, maintaining, and repairing the property except when these costs are otherwise paid. [Pre-2007 Higher Education Recodification Citations: 20-12-7-1.3; 20-12-8-1.3.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-9 "Property"

Sec. 9. "Property": (1) for purposes of IC 21-35-2, means any property that the board of trustees of a state educational institution is authorized to finance under IC 21-35-2 and under IC 21-35-5 by the issuance of bonds, refunding bonds, or advance refunding bonds; (2) for purposes of IC 21-35-3, means any property that the board of trustees of a state educational institution is authorized to finance under IC 21-35-3 and under IC 21-35-5 by the issuance of bonds, refunding bonds, or advance refunding bonds; and (3) for purposes of IC 21-35-5, means any property that the board of trustees of a state educational institution is authorized to finance by the issuance of revenue obligations issued under IC 21-35-5. [Pre-2007 Higher Education Recodification Citations: 20-12-7-1.4; 20-12-9-1(3) part; 20-12-8-1.4.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-10 "Research facility"

Sec. 10. "Research facility", for purposes of IC 21-35-3, refers to property described in IC 21-35-3-2(2). [2007 Higher Education Recodification Citation: New.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-11 "Revenue obligations"

Sec. 11. "Revenue obligations", for purposes of IC 21-35-5, means any obligations, including: (1) bonds; (2) notes; (3) temporary, interim, or permanent certificates of indebtedness; (4) debentures; or (5) other obligations; payable out of revenues derived from properties described in IC 21-35-5. [Pre-2007 Higher Education Recodification Citation: 20-12-9-1(2).] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-12 "Support facility"

Sec. 12. "Support facility", for purposes of IC 21-35-3, refers to property described in IC 21-35-3-2(1). [Pre-2007 Higher Education Recodification Citation: New.] As added by P.L.2-2007, SEC.276.

Ind. Code § 21-35-1-13 "User"

Sec. 13. "User", for purposes of IC 21-35-7, means any of the following that has entered into a financing agreement with a state educational institution or developer in contemplation of the user's use of the facilities referred to in the agreement: (1) A person. (2) A firm. (3) A partnership. (4) A limited liability company. (5) A trust. (6) An association. (7) A corporation. [Pre-2007 Higher Education Recodification Citation: 20-12-1.5-2 part.] As added by P.L.2-2007, SEC.276.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/21Fetched: 10/17/2026