Sec. 2. (a) This section applies to the board of trustees of the following state educational institutions: (1) Ball State University. (2) Indiana University. (3) Indiana State University. (4) Purdue University. (5) University of Southern Indiana. (b) The board of trustees of a state educational institution may enter into a lease if the board of trustees determines that the lease is in the best interest of the state educational institution. A lease may not be executed under this chapter for a term exceeding four (4) years unless the execution is approved by the: (1) governor; and (2) budget agency. [Pre-2007 Higher Education Recodification Citation: 20-12-1-2(b) part.]
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