20-46-7-11. Approval; Factors Considered; No Authority to Review or Approve Financing
Sec. 11. (a) The department of local government finance in determining whether to approve or disapprove a school building construction project shall consider the following factors: (1) The current and proposed square footage of school building space per student. (2) Enrollment patterns within the school corporation. (3) The age and condition of the current school […]
20-46-7-12. Maximum Term of Bonds
Sec. 12. (a) Except as provided by IC 5-1-14-10 and subsection (c), the maximum term or repayment period for bonds issued by a school corporation for a school building construction project may not exceed twenty (20) years after the date of the issuance of the bonds. (b) If a school corporation is an eligible school […]
20-46-7-13. Annual Review
Sec. 13. The department of local government finance shall annually conduct the review of debt service obligations (as defined in IC 20-48-1-11) required in IC 20-48-1-11. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.169.
20-46-7-14. Payments Toward Principal Required on at Least Annual Basis
Sec. 14. After May 15, 2007, the department of local government finance may not approve under section 9 of this chapter a school corporation’s proposed: (1) bond issue that does not provide for payments toward the principal of the bonds on at least an annual basis in the amount determined under the rules or guidelines […]
20-46-7-15. Use of Savings Resulting From Refunding Bonds
Sec. 15. (a) As used in this section, “debt service fund” includes the separate debt service fund for the payment of debt service on bonds used to implement solutions to a contractual retirement or severance liability. (b) As used in this section, “eligible school corporation” has the meaning set forth in IC 5-1-5-2.5. (c) As […]
20-46-7-9. Review by Department of Local Government Finance
Sec. 9. (a) This section applies only to an obligation subject to section 8 of this chapter. This section does not apply to bonded indebtedness or lease rental agreements for which a school corporation: (1) after June 30, 2008, makes a preliminary determination as described in IC 6-1.1-20-3.1 or IC 6-1.1-20-3.5 or a decision as […]
20-46-7-10. Approval; Required Study of Classroom Space
Sec. 10. (a) This section applies only to an obligation described in section 8 of this chapter. This section does not apply to bonded indebtedness or lease rental agreements for which the school corporation: (1) after June 30, 2008, makes a preliminary determination as described in IC 6-1.1-20-3.1 or IC 6-1.1-20-3.5 or a decision as […]
20-46-7-1. “Fund”
Sec. 1. As used in this chapter, “fund” refers to the debt service fund. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.169.
20-46-7-2. “Levy”
Sec. 2. As used in this chapter, “levy” refers to a levy imposed under this chapter. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.169.
20-46-7-3. “Obligation”
Sec. 3. As used in this chapter, “obligation” refers to any obligation that is permitted or required by law to be paid from the fund under IC 20-40-9 or another law. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.169.