Sec. 6. The university board, under IC 20-12-6 (before its repeal, now codified at IC 21-34), shall:
(1) establish, hold, and invest a building facilities fee fund;
(2) in conformity with the implementation agreements described in section 4 of this chapter, deposit amounts initially collected for a building facilities fee fund from students of the regional campus by Indiana State University into the building facilities fee fund established under subdivision (1);
(3) fix, charge, and collect building facilities fees in amounts sufficient to provide for required payments of principal, interest, and deposits to reserve accounts, if any, on the obligations assumed by the university board, under section 4(c) of this chapter and described in section 5(b) of this chapter, and incurred by the ISU board under IC 20-12-6 (before its repeal, now codified at IC 21-34);
(4) transfer the amounts described in subdivision (3) to the ISU board; and
(5) fix, charge, and collect building fees in amounts sufficient to provide for required payments of principal, interest, and deposits to reserves for obligations incurred by the university board under IC 20-12-6 (before its repeal, now codified at IC 21-34).
As added by P.L.220-2011, SEC.356.