The board shall have power for each institution, as defined in this article, to:

Terms Used In Arizona Laws 15-1682

  • Acquire: includes to purchase, lease, lease-purchase, erect, build, construct, reconstruct, raze, remodel, repair, replace, alter, extend, expand, better, equip, furnish, develop, improve and embellish a project, and the acquisition, preparation and development of a site or sites therefor. See Arizona Laws 15-1681
  • Board: means the Arizona board of regents or its successor. See Arizona Laws 15-1681
  • Bonds: means any bonds issued pursuant to this article. See Arizona Laws 15-1681
  • Contract: A legal written agreement that becomes binding when signed.
  • Federal agency: means the United States of America, the president of the United States of America, the department of housing and urban development or such other agency or agencies of the United States of America as may be designated or created to make loans or grants, or both. See Arizona Laws 15-1681
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Institution: means the university of Arizona, Arizona state university and northern Arizona university or any other college or university under the jurisdiction and control of the board or its successor. See Arizona Laws 15-1681
  • Project: means and includes buildings, structures, areas and facilities which, as determined by the board, are required by or necessary for the use or benefit of each of such institutions, including, without limiting the generality of the foregoing, student, faculty or staff housing facilities, residence halls, dormitories and apartments; student union and recreational buildings and stadiums; other facilities for student, faculty or staff services; any facility or building leased to the United States of America; parking garages and areas; offices, classrooms, laboratories, dining halls and food service facilities, libraries, auditoriums, or parts thereof, or additions or extensions thereto; heating, lighting and other utility service facilities in connection therewith, or parts thereof, or additions or extensions thereto; whether heretofore acquired and now or hereafter used for any or all of the purposes aforesaid, or as may be hereafter acquired under this article, with all equipment and appurtenant facilities; or any one, or more than one, or all of the foregoing, or any combination thereof, for any institution, including sites therefor. See Arizona Laws 15-1681
  • System of building facilities: means such project or projects as the board by resolution shall collectively designate to be included in a system of building facilities at each institution, either:

    (a) Hereafter acquired for each of such institutions under the terms of this article. See Arizona Laws 15-1681

  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215

1. Acquire, if authorized by the legislature, any project or projects, or any combination thereof, and to secure indirect or third-party financing for or own, operate and maintain the same and establish, own, operate and maintain a system of building facilities.

2. Acquire by purchase, contract, lease-purchase, lease or gift, and hold or dispose of, real or personal property or rights or interest therein.

3. Accept grants, subsidies or loans of monies from a federal agency, or others, on such terms and conditions as may be imposed, and to pledge the proceeds of grants, subsidies or loans of monies received or to be received from the United States of America or any agency or instrumentality thereof, or others, pursuant to agreements entered into between the board and the United States of America, or any agency or instrumentality thereof, or others.

4. Borrow monies and issue bonds to acquire any one project, or more than one, or any combination thereof, if authorized by the legislature, and to refund bonds heretofore or hereafter issued to acquire any project or projects, or to refund any such refunding bonds, or for any one, or more than one, or all of such purposes, or any combination thereof, and to provide for the security and payment of such bonds and for the rights of the holders thereof.

5. Make contracts and leases and execute all instruments and perform all acts and do all things necessary or convenient to carry out the powers granted in this article.

6. Retain in its treasury:

(a) All monies received from the sale of all bonds issued under this article.

(b) All fees, tuitions, rentals and other charges from students, faculty, staff members and others using or being served by, or having the right to use or the right to be served by, or to operate, any project.

(c) All fees for student activities and student services and all other fees, tuitions and charges collected from students matriculated, registered or otherwise enrolled at and attending each institution pledged under the terms of any resolution authorizing bonds pursuant to this article.

(d) All rentals from any facility or building leased to the United States of America.

7. Obtain lines of credit for cash management or liquidity purposes and to issue commercial paper as provided in section 15-1696.

 

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