Indiana § 20-46-7-8.5 Review and approval by department of local government finance not
required for certain bonds, leases, or other obligations

Indiana Statutes

§ 20-46-7-8.5 — Review and approval by department of local government finance not required for certain bonds, leases, or other obligations

Indiana § 20-46-7-8.5

Title 20EDUCATION

Art. 46LEVIES OTHER THAN GENERAL FUND LEVIES

Ch. 7Debt Service Levy

This text of Indiana § 20-46-7-8.5 (Review and approval by department of local government finance not required for certain bonds, leases, or other obligations) 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 § 20-46-7-8.5 (2026).

Text

5.

(a)Notwithstanding any other provision, review by the department of local government finance and approval by the department of local government finance are not required before a school corporation may issue or enter into bonds, a lease, or any other obligation, if the school corporation:

(1)after June 30, 2008, makes a preliminary determination as described in IC 6-1.1-20-3.1 or IC 6-1.1-20-3.5 or a decision as described in IC 6-1.1-20-5; or

(2)in the case of bonds, leases, or other obligations not subject to IC 6-1.1-20-3.1, IC 6-1.1-20-3.5, or IC 6-1.1-20-5, adopts a resolution or ordinance authorizing the bonds, lease rental agreement, or other obligations after June 30, 2008.

(b)A school corporation is not required to obtain the approval of the department of local government fin

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5. (a) Notwithstanding any other provision,
review by the department of local government finance and approval by
the department of local government finance are not required before a
school corporation may issue or enter into bonds, a lease, or any other
obligation, if the school corporation:
(1) after June 30, 2008, makes a preliminary determination as
described in IC 6-1.1-20-3.1 or IC 6-1.1-20-3.5 or a decision as
described in IC 6-1.1-20-5; or
(2) in the case of bonds, leases, or other obligations not subject to
IC 6-1.1-20-3.1, IC 6-1.1-20-3.5, or IC 6-1.1-20-5, adopts a
resolution or ordinance authorizing the bonds, lease rental
agreement, or other obligations after June 30, 2008.
(b) A school corporation is not required to obtain the approval of the
department of local government finance before the school corporation
may repay from the debt service fund any loans made after June 30,
2008, for the purchase of school buses under IC 20-27-4-5.
(c) This subsection applies after June 30, 2008. Notwithstanding any
other provision, review by the department of local government finance
and approval by the department of local government finance are not
required before a school corporation may construct, alter, or repair a
capital project.