Sec. 7. In addition to projects authorized by the general assembly, the board of trustees of a state educational institution may engage in a project: (1) to lease, other than a project to lease-purchase, a building or facility; and (2) for which the annual cost of the project exceeds five hundred thousand dollars ($500,000); only if the project is reviewed by the commission for higher education and approved by the governor, on recommendation of the budget agency. The review by the commission for higher education must be completed not later than ninety (90) days after the project is submitted for review. [Pre-2007 Higher Education Recodification Citation: 20-12-5.5-2(a)(3).]
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