Indiana § 20-49-4-16 Maximum term of advance; educational technology program;
prepayment; interest rate

Indiana Statutes

§ 20-49-4-16 — Maximum term of advance; educational technology program; prepayment; interest rate

Indiana·Title 20 EDUCATION·Art. 49 STATE MANAGEMENT OF COMMON SCHOOL·Ch. 4 Advancement From Common School Fund; Buildings;

(a)Money advanced to a school corporation or charter school for an educational technology program may be for a period not exceeding five (5) years. The school corporation or charter school to which an advance is made shall pay interest on the advance. Advances for educational technology programs may be prepaid at any time.

(b)The state board of finance shall periodically establish the rate or rates of interest payable on advances for educational technology programs as long as the established interest rate or rates:

(1)are not less than one percent (1%); and

(2)do not exceed four percent (4%). [Pre-2006 Recodification Citation: 21-1-5-5(b).]

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(a) Money advanced to a school corporation
or charter school for an educational technology program may be for a
period not exceeding five (5) years. The school corporation or charter
school to which an advance is made shall pay interest on the advance.
Advances for educational technology programs may be prepaid at any
time.
(b) The state board of finance shall periodically establish the rate or
rates of interest payable on advances for educational technology
programs as long as the established interest rate or rates:
(1) are not less than one percent (1%); and
(2) do not exceed four percent (4%).
[Pre-2006 Recodification Citation: 21-1-5-5(b).]

Indiana § 20-49-4-16 (Maximum term of advance; educational technology program; prepayment; interest rate) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.