Indiana § 21-32-2-2 - State educational institution's powers
Full text of Indiana Indiana Code § 21-32-2-2 — State educational institution's powers, with citation guidance and answers to common questions.
§ 21-32-2-2. State educational institution's powers
Sec. 2. A state educational institution may do any of the following:
(1) Borrow funds on a temporary basis in anticipation of the issuance of long term obligations.
(2) Use the proceeds of a temporary borrowing for any purpose for which the institution could issue or incur obligations under IC 21-33-3-5, IC 21-34, IC 21-35-2, IC 21-35-3, or IC 21-35-5.
(3) Issue a temporary borrowing:
(A) in the form of a bond, note, commercial paper, or any other form;
(B) upon the terms and conditions and with the provisions (including redemption provisions);
(C) at the rate or rates of interest (fixed or variable); and
(D) subject to subdivision (5), in the denominations;
as the state educational institution determines under subdivision (6).
(4) Negotiate the terms of any temporary borrowing.
(5) Make the denominations determined under subdivision (3)(D) convertible into different denominations.
(6) Make the determinations under subdivision (3) by any of the following:
(A) The adoption of a resolution.
(B) The approval of a form of indenture between the state educational institution and a designated corporate trustee.
[Pre-2007 Higher Education Recodification Citation: 20-12-9.5-3.]
As added by P.L.2-2007, SEC.273. Amended by P.L.79-2010, SEC.2.
Frequently Asked Questions About Indiana § 21-32-2-2
What does Indiana Code § 21-32-2-2 cover?
Section 21-32-2-2 ("State educational institution's powers") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 21-32-2-2?
A common citation format is "Indiana Code § 21-32-2-2" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 21-32-2-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.