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IC 21-24-2.1-1
"ISU board"
Sec. 1. As used in this chapter, "ISU board" means the Indiana
State University board of trustees.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-2
"Regional campus"
Sec. 2. As used in this chapter, "regional campus" means Indiana
State University - Regional Campus Evansville, a regional campus
managed by the ISU board in Vanderburgh County, Indiana.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-3
"University board"
Sec. 3. As used in this chapter, "university board" means the
University of Southern Indiana board of trustees established by
P.L.218-1985.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-4
Transfer of property and assets; agreements to implement chapter
Sec. 4. (a) Before July 1, 1985, the ISU board shall transfer all
property and other assets, regardless of whether the assets are real,
personal, tangible, or intangible, located on the regional campus.
(b) Before July 1, 1985, the university board shall accept the
transfer of assets described in subsection (a) and assume the
liabilities described in section 5 of this chapter.
(c) The university board and the ISU board shall enter into one (1)
or more agreements that implement this chapter and that do not
conflict with P.L.218-1985. The agreements must:
(1) list or otherwise describe all assets to be transferred to the
university board under subsection (a);
(2) delineate the means of the transfers described in subsection
(a), either by deed, bill of sale, or other appropriate conveyance;
(3) delineate the required timing for each transfer described in
subsection (a);
(4) list or otherwise describe all obligations to be assumed by
the university and the means and procedures for providing for
payment and satisfaction of each obligation by the university;
(5) provide for the joint use contracts described in section 5(d)
of this chapter;
(6) provide for indemnification of the ISU board by the
university board, as necessary or appropriate, in regard to any
liabilities of the ISU board assumed by the university board;
and
IC 21-24-2.1-5
Assumption of obligations and liabilities
Sec. 5. (a) The university board shall assume all obligations and
other liabilities of the ISU board that have been incurred by the ISU
board for facilities located on the regional campus before the
facilities are transferred to the university board under section 4 of
this chapter.
(b) The liabilities described in subsection (a) include the
following:
(1) Indiana State University Building Facilities Fee Bonds,
Series D of 1971.
(2) Indiana State University Building Facilities Fee Bonds,
Series F of 1975.
(3) Indiana State University Building Facilities Fee Bonds,
Series G of 1978.
(4) Indiana State University Student Union Building Refunding
Bonds (Evansville campus) dated January 1, 1978.
(5) Any interim financing authorized under IC 20-12-6 (before
its repeal, now codified at IC 21-34), IC 20-12-7 (before its
repeal, now codified at IC 21-35), or IC 20-12-9 (before its
repeal, now codified at IC 21-35) and outstanding and unpaid
on July 1, 1985.
(c) The university board shall:
(1) assume all other contractual liabilities and responsibilities
of the ISU board:
(A) not described in subsection (a) or (b);
(B) expiring after June 30, 1985; and
(C) specifically applicable to activities or properties on the
regional campus; and
(2) waive all rights under contracts generally applicable to
Indiana State University.
(d) This subsection applies if:
(1) the ISU board may not lawfully delegate a contractual
obligation described in subsection (c) to the university board;
(2) the ISU board may not lawfully assign a contractual right
described in subsection (c) to the university board;
(3) a contractual obligation described in subsection (c) of the
ISU board may not be lawfully extinguished; or
(4) the ISU board and the university board agree to continue a
contract in its existing form.
The implementing agreements described in section 4 of this chapter
must provide for joint use of the contracts described in this
subsection in the name of the ISU board for the benefit of ISU and
the university board, must allocate between the ISU board and the
university board the benefits and costs of each contract described in
this subsection, and must provide the terms of payment by the
university board to the ISU board or on behalf of the ISU board.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-6
University board duties
Sec. 6. The university board, under IC 20-12-6 (before its repeal,
now codified at IC 21-34), shall:
(1) establish, hold, and invest a building facilities fee fund;
(2) in conformity with the implementation agreements described
in section 4 of this chapter, deposit amounts initially collected
for a building facilities fee fund from students of the regional
campus by Indiana State University into the building facilities
fee fund established under subdivision (1);
(3) fix, charge, and collect building facilities fees in amounts
sufficient to provide for required payments of principal,
interest, and deposits to reserve accounts, if any, on the
obligations assumed by the university board, under section 4(c)
of this chapter and described in section 5(b) of this chapter, and
incurred by the ISU board under IC 20-12-6 (before its repeal,
now codified at IC 21-34);
(4) transfer the amounts described in subdivision (3) to the ISU
board; and
(5) fix, charge, and collect building fees in amounts sufficient
to provide for required payments of principal, interest, and
deposits to reserves for obligations incurred by the university
board under IC 20-12-6 (before its repeal, now codified at
IC 21-34).
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-7
University board duties
Sec. 7. The university board shall:
(1) fix, maintain, and collect the fees, rates, and charges for the
student union building transferred to the university board under
section 4 of this chapter;
(2) levy and collect service fees from students enrolled in the
University of Southern Indiana allocable to the student union
building transferred to the university board under the authority
of section 4 of this chapter;
(3) transfer to the ISU board amounts necessary to provide for
payments on the Indiana State University Student Union
Building Refunding Bonds (Evansville campus) dated January
1, 1978; and
(4) otherwise comply with the requirements in the indenture of
mortgage dated January 2, 1978, for the student union building
transferred to the university board under section 4 of this
chapter.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-9
Failure to make transfer; notice; auditor of state to issue warrant;
amount of warrant
Sec. 9. This section applies if the University of Southern Indiana
board of trustees fails to make a transfer required by an agreement
described in section 5(d) of this chapter or required by section 6 or
7 of this chapter, when due, to the Indiana State University board of
trustees. Upon being notified that the University of Southern Indiana
board of trustees has failed to make a transfer described by this
section, the auditor of state shall issue a warrant to the Indiana State
University board of trustees that is equal to the amount of payment
due from the University of Southern Indiana board of trustees to the
Indiana State University board of trustees. The amount of the warrant
shall be paid by the treasurer of state under IC 4-8.1-2 at the time of
its presentation to the extent that the amount of the warrant does not
exceed the undistributed amounts appropriated by the general
assembly to the University of Southern Indiana board of trustees in
that fiscal year. To the extent that the warrant exceeds the amount of
undistributed appropriations to the University of Southern Indiana
board of trustees, the treasurer of state shall continue to be obligated
to pay the excess in future fiscal years from amounts appropriated to
the University of Southern Indiana board of trustees in subsequent
fiscal years. The amount paid by the treasurer of state under this
section in any fiscal year shall be deducted from the amount
distributable to the University of Southern Indiana board of trustees
from the affected appropriation.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-10
Fees and charges fixed and imposed by Indiana State University
board of trustees; obligation for liabilities
Sec. 10. (a) The Indiana State University board of trustees shall
fix, impose, and collect its own fees and charges in an amount
sufficient, when added to other funds provided by operation of
sections 5(d), 6, 7, and 9 of this chapter and to funds otherwise
available, to make the required payments and otherwise meet all
requirements on all financial obligations and other liabilities
described in section 5 of this chapter.
(b) Except as otherwise provided by section 5 of this chapter, after
the assumption of liabilities described in section 5 of this chapter, the
Indiana State University board of trustees shall continue to:
(1) remain liable for the assumed liabilities;
(2) remain obligated to fix, impose, and collect the fees and
charges described in subsection (a); and
(3) repay the assumed indebtedness as the indebtedness
becomes due;
after the University of Southern Indiana board of trustees assumes
the liabilities described in section 5 of this chapter.
As added by P.L.220-2011, SEC.356.
IC 21-24-2.1-11
Contract in existence on April 16, 1985, not impaired
Sec. 11. P.L.218-1985 does not impair any contract in existence
on April 16, 1985.
As added by P.L.220-2011, SEC.356.