Indiana § 20-49-2-9 Maximum advancement; nonemergency

Indiana Statutes

§ 20-49-2-9 — Maximum advancement; nonemergency

Indiana·Title 20 EDUCATION·Art. 49 STATE MANAGEMENT OF COMMON SCHOOL·Ch. 2 Administration of Veterans Memorial School

A nondisaster advancement to any school corporation under section 10 of this chapter may not exceed two hundred fifty thousand dollars ($250,000). However, this dollar limitation is waived if:

(1)the school corporation has an assessed valuation per ADA of less than eight thousand four hundred dollars ($8,400); and

(2)the school corporation's debt service fund tax rate would exceed one dollar ($1) for each one hundred dollars ($100) of assessed valuation without a waiver of the dollar limitation. [Pre-2006 Recodification Citation: 21-1-11-2(a) part.]

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A nondisaster advancement to any school
corporation under section 10 of this chapter may not exceed two
hundred fifty thousand dollars ($250,000). However, this dollar
limitation is waived if:
(1) the school corporation has an assessed valuation per ADA of
less than eight thousand four hundred dollars ($8,400); and
(2) the school corporation's debt service fund tax rate would
exceed one dollar ($1) for each one hundred dollars ($100) of
assessed valuation without a waiver of the dollar limitation.
[Pre-2006 Recodification Citation: 21-1-11-2(a)
part.]

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