Indiana § 20-27-4-3 Security agreements; appropriation

Indiana Statutes

§ 20-27-4-3 — Security agreements; appropriation

Indiana § 20-27-4-3

Title 20EDUCATION

Art. 27SCHOOL TRANSPORTATION

Ch. 4Purchase of School Buses

This text of Indiana § 20-27-4-3 (Security agreements; appropriation) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 20-27-4-3 (2026).

Text

Before a security agreement is executed, an appropriation for the amount of the purchase price must be made. The appropriation is made in the same manner as any other appropriation, except that the amount of the appropriation is not limited by the amount of funds available at the time of the execution or the amount of funds to be raised by a tax levy effective at the time of the execution. A petition to borrow, a notice to taxpayers, or other formality is not necessary, except:

(1)as specifically provided in this chapter; and

(2)as may be required by law for the issuance of general obligation bonds. [Pre-2005 Elementary and Secondary Education Recodification Citation: 20-9.1-6-3.]

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Before a security agreement is executed, an
appropriation for the amount of the purchase price must be made. The
appropriation is made in the same manner as any other appropriation,
except that the amount of the appropriation is not limited by the
amount of funds available at the time of the execution or the amount of
funds to be raised by a tax levy effective at the time of the execution.
A petition to borrow, a notice to taxpayers, or other formality is not
necessary, except:
(1) as specifically provided in this chapter; and
(2) as may be required by law for the issuance of general
obligation bonds.
[Pre-2005 Elementary and Secondary Education
Recodification Citation: 20-9.1-6-3.]