The budget agency may not enter into a sublease under section 5 of this chapter unless the following conditions are met:

1. (1) The total:

   1. (A) acquisition;
   2. (B) construction;
   3. (C) initial installation; and

   4. (D) initial equipping;

      costs for the Columbus Learning Center that are to be financed through lease rental revenue bonds is twenty-five million dollars ($25,000,000) or less, excluding amounts necessary to provide money for debt service reserves, credit enhancement, or other costs incidental to the issuance of bonds.

2. (2) The director of the budget agency has certified in writing to the legislative council that there is an unmet higher education need that the Columbus Learning Center will correct.

As added by P.L.220-2011, SEC.27.