The board of trustees of a state educational institution may borrow money and evidence the loans by the issuance and sale of bonds of the board of trustees of the state educational institution to provide funds with which to:

1. (1) 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 ;
2. (2) pay part or all of the cost of acquiring (by purchase, lease, sublease, condemnation, trade, or otherwise) or improving real or personal property under IC 21-34-3-4 ; or

3. (3) perform the obligations of any joint-use agreements under IC 21-34-4 .

   [Pre-2007 Higher Education Recodification Citation: 20-12-6-6(a) part.]

As added by P.L.2-2007, SEC.275.