Indiana § 20-40-9-8 Uses; lease rentals; prohibition on lease payments from the education
fund

Indiana Statutes

§ 20-40-9-8 — Uses; lease rentals; prohibition on lease payments from the education fund

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

(a)Lease rental obligations on account of leases entered into under IC 21-5-11 (before its repeal), IC 20-47-2, IC 21-5-12 (before its repeal), or IC 20-47-3 may be paid by a school corporation from the debt service fund.

(b)Payments described in subsection (a) must be provided for in the annual budget for the fund from which the payment is made.

(c)The payment of lease rental obligations from the education fund is prohibited. [Pre-2006 Recodification Citation: 21-5-8-1.]

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(a) Lease rental obligations on account of
leases entered into under IC 21-5-11 (before its repeal), IC 20-47-2, IC 21-5-12 (before its repeal), or IC 20-47-3 may be paid by a school
corporation from the debt service fund.
(b) Payments described in subsection (a) must be provided for in the
annual budget for the fund from which the payment is made.
(c) The payment of lease rental obligations from the education fund
is prohibited.
[Pre-2006 Recodification Citation: 21-5-8-1.]

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