§ 20-40-9-6 — Uses; payment of debt and lease expenses

Indiana § 20-40-9-6

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 40: GOVERNMENT FUNDS AND ACCOUNTS
• Ch. 9: Debt Service Fund

Text

Money in the debt service fund may be used for
payment of the following:
(1) All debt and other obligations arising out of funds borrowed
or advanced for school buildings when purchased from the
proceeds of a bond issue for capital construction.
(2) A lease to provide capital construction.
(3) Interest on emergency and temporary loans.
(4) All debt and other obligations arising out of funds borrowed
or advanced for the purchase or lease of school buses when
purchased or leased from the proceeds of a bond issue, or from
money obtained from a loan made under IC 20-27-4-5, for that
purpose.
(5) All debt and other obligations arising out of funds borrowed
to pay judgments against the school corporation.
(6) All debt and other obligations arising out of funds borrowed
to purchase equipment.
[Pre-2006 Recodification Citation: 21-2-4-2 part.]

Legislative History

As added by P.L.2-2006, SEC.163. Amended by P.L.257-2013, SEC.38; P.L.85-2017, SEC.82; P.L.244-2017, SEC.80.