§ 20-49-3-11 — Advances permitted; counties managing a county common school fund

Indiana § 20-49-3-11

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 49: STATE MANAGEMENT OF COMMON SCHOOL
• Ch. 3: State Administration of Common School Fund

Text

(a) This section applies to a county that:
(1) has not elected to surrender custody of any part of the fund to
the state; and
(2) has an insufficient amount of unloaned money in the fund
when added to the amount of unloaned money in the
congressional township school fund, as shown by a report of the
county auditor and county treasurer, to make all loans for which
the county auditor has applications.
(b) Upon petition of the board of commissioners of the county, the
state board of finance may allocate to the county making the
application the amount that the state board of finance determines is
necessary.
[Pre-2006 Recodification Citation: 21-1-3-8 part.]

Legislative History

As added by P.L.2-2006, SEC.172.