Indiana Statutes
§ 20-49-10-7 — Terms and conditions of an advance
Indiana·Title 20 EDUCATION·Art. 49 STATE MANAGEMENT OF COMMON SCHOOL·Ch. 10 Advancement From Common School Fund;
The following apply to an advance under this chapter:
(1)A school corporation or charter school (or coalition of public
schools filing jointly) must pay interest on the advance. The state
board of finance shall periodically establish the rate or rates of
interest payable on advances made under this chapter as long as
the established interest rate or rates are not less than one percent
(1%) and do not exceed four percent (4%).
(2)The state board may provide that the advances made under
this chapter are prepayable at any time.
(3)The term of the advance may not exceed ten (10) years after
the date of the advance.
(4)A school corporation or charter school (or a coalition of public
schools applying jointly) must enter into an advance agreement
with the state board before receiving an advan
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Legislative History
As added by P.L.211-2018(ss), SEC.13.
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References to repealed statutes§ 20-17-1-7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References to repealed statutes