Sec. 1. (a) The board of trustees of Purdue University may:
(1) declare all or any part of the Purdue University Airport and its facilities a public airport; and
(2) authorize by contract, license, lease, or otherwise, public use of the airport and its facilities.
(b) The board of trustees may determine the term and application of an agreement entered into under this section. This section does not apply to facilities required solely for educational or research activities at Purdue University.