Indiana Statutes
§ 20-40-9-6 — Uses; payment of debt and lease expenses
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.
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Related
Parker v. Franklin County Community School Corp.
667 F.3d 910 (Seventh Circuit, 2012)
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.
Nearby Sections
15
§ 20-17-1-1
"Prior law"§ 20-17-1-2
Purpose of recodification§ 20-17-1-3
Statutory construction of recodification§ 20-17-1-4
Effect of recodification§ 20-17-1-5
Recodification of prior law§ 20-17-1-6
References to repealed statutes§ 20-17-1-7
References to citations§ 20-17-1-8
References to prior rules§ 20-17-1-9
References to prior law§ 20-17-2-1
"Prior law"§ 20-17-2-2
Purpose of recodification§ 20-17-2-3
Statutory construction of recodification§ 20-17-2-4
Effect of recodification§ 20-17-2-5
Recodification of prior law§ 20-17-2-6
References to repealed statutes