Indiana University (the "University") has limited authority by the Indiana Code (“IC”) to issue external financing in several forms, including the issuance of Revenue Bonds under:
IC 21-35-2 (Construction and Operation of Fieldhouses, Gymnasiums, Student Unions, and Halls of Music; Revenue Bonds) and
- IC 21-35-3 (Acquisition of Certain Support Facilities and Research Facilities; Revenue Bonds), each as supplemented by
- IC 21-35-5 (Supplemental Procedures for Financing Revenue Producing Properties With Revenue Obligations) (collectively, the “Code”).
Consolidated Revenue Bonds carry an unsecured promise to pay debt service from net income generated from the facilities being financed and other legally available funds of the University.
Facilities that can be financed under the Code:
- Facilities specifically listed in the Code, including:
- Dormitories/student housing facilities,
- Food service facilities,
- Parking facilities,
- Health service facilities including hospitals,
- Certain research facilities on the IU Bloomington and IUPUI Campuses,
- Specific facilities as designated by action of the Indiana General Assembly, for example, certain athletic facilities located on the IU Bloomington campus.
Posted on June 15, 2015