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House Bill 1162


House Bill 1162

ARCHIVE (2006)

Latest Information

 

DIGEST OF INTRODUCED BILL


University bonding. Adds software and related costs to the costs that may be included in a state university bond issue for a capital project. Provides that certain installment contracts entered into by state universities are not considered to be bond issues. Provides that bonds may be issued by a state university for equipment, software, and related purposes (instead of capital projects) without the approval of the general assembly if, after the issuance, the total amount of bonds outstanding will not exceed $10,000,000 (instead of $1,000,000). Increases the cap on the amount of bonds that a state university may have outstanding for qualified energy savings projects from $10,000,000 to $20,000,000. Authorizes Purdue University to issue bonds for certain repair and rehabilitation expenses without the approval of the general assembly. Authorizes a state university to issue bonds for certain technology expenditures without the approval of the general assembly. Authorizes a state university to issue revenue bonds for facilities used for clinical, medical, scientific, engineering, or other similar research purposes if revenue will be available in an amount at least equal to debt service for the bonds. (Current law is limited to medical research facilities associated with a school of medicine.)
Current Status:
 In Committee - first House
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