Indiana § 6-1.1-20.3-8.7 Restrictions on school corporations designated as distressed

Indiana Statutes

§ 6-1.1-20.3-8.7 — Restrictions on school corporations designated as distressed

Indiana § 6-1.1-20.3-8.7

Art. 1.1PROPERTY TAXES

Ch. 20.3Distressed Political Subdivisions

This text of Indiana § 6-1.1-20.3-8.7 (Restrictions on school corporations designated as distressed) 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 § 6-1.1-20.3-8.7 (2026).

Text

7. A school corporation that is designated a distressed political subdivision may not do any of the following without the approval of the board during the period before the board terminates the school corporation's status as a distressed political subdivision:

(1)Acquire real property for school building purposes.

(2)Construct new school buildings or remodel or renovate existing school buildings.

(3)Incur a contractual obligation (except for a maintenance contract or an employment contract for a new employee whose employment replaces the employment of a former employee) that requires an expenditure of more than thirty thousand dollars ($30,000).

(4)Purchase or enter into an agreement to purchase personal property at a cost of more than thirty thousand dollars ($30,000).

(5)Adopt or ad

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7. A school corporation that is designated
a distressed political subdivision may not do any of the following
without the approval of the board during the period before the board
terminates the school corporation's status as a distressed political
subdivision:
(1) Acquire real property for school building purposes.
(2) Construct new school buildings or remodel or renovate
existing school buildings.
(3) Incur a contractual obligation (except for a maintenance
contract or an employment contract for a new employee whose
employment replaces the employment of a former employee) that
requires an expenditure of more than thirty thousand dollars
($30,000).
(4) Purchase or enter into an agreement to purchase personal
property at a cost of more than thirty thousand dollars ($30,000).
(5) Adopt or advertise a budget, tax levy, or tax rate for an
ensuing budget year.