Sec. 21. (a) Subject to this section, contracts to:
(1) acquire land for;
(2) construct, purchase, lease, sublease, or otherwise acquire; or
(3) engage architectural or engineering services in connection with;
any property to be financed in whole or in part by the issuance of bonds under this chapter may not be made by any state educational institution without the specific approval of the budget agency and the governor.
(b) This section does not apply to any contract relating to property, the cost of which does not exceed fifty thousand dollars ($50,000).
[Pre-2007 Higher Education Recodification Citation: 20-12-8-6.]
As added by P.L.2-2007, SEC.276.
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