20-48-3-1. Application

Sec. 1. This chapter applies only to a school city to which IC 20-25 applies. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

20-48-3-1. Application

Sec. 1. This chapter applies only to a school city to which IC 20-25 applies. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

20-48-3-2. “Board”

Sec. 2. As used in this chapter, “board” has the meaning set forth in IC 20-25-2-5. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

20-48-3-2. “Board”

Sec. 2. As used in this chapter, “board” has the meaning set forth in IC 20-25-2-5. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

20-48-3-3. “School City”

Sec. 3. As used in this chapter, “school city” has the meaning set forth in IC 20-25-2-12. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

20-48-3-3. “School City”

Sec. 3. As used in this chapter, “school city” has the meaning set forth in IC 20-25-2-12. [2006 Recodification Citation: New.] As added by P.L.2-2006, SEC.171.

20-48-3-4. Powers; Bonds; Real Property; Improvements to Real Property

Sec. 4. (a) The board may periodically, as the need arises, borrow money and issue school building bonds to supply the school city with funds: (1) to buy real estate; (2) to erect buildings for school or administrative purposes; (3) to enlarge, remodel, and repair school buildings; or (4) for one (1) or more of […]

20-48-3-4. Powers; Bonds; Real Property; Improvements to Real Property

Sec. 4. (a) The board may periodically, as the need arises, borrow money and issue school building bonds to supply the school city with funds: (1) to buy real estate; (2) to erect buildings for school or administrative purposes; (3) to enlarge, remodel, and repair school buildings; or (4) for one (1) or more of […]

20-48-3-5. Temporary Loans

Sec. 5. (a) The board may, if the school corporation’s operations fund is exhausted or in the board’s judgment is in danger of exhaustion, make temporary loans for the use of the operations fund to be paid out of the proceeds of taxes levied by the school city for the operations fund. The amount borrowed […]

20-48-3-5. Temporary Loans

Sec. 5. (a) The board may, if the school corporation’s operations fund is exhausted or in the board’s judgment is in danger of exhaustion, make temporary loans for the use of the operations fund to be paid out of the proceeds of taxes levied by the school city for the operations fund. The amount borrowed […]

20-48-3-6. Temporary Transfers; Proceeds of Bonds

Sec. 6. (a) A school city wishing to make a temporary loan for its operations fund under this section may temporarily borrow money, without payment of interest, from the school city’s treasury if the school city has in its treasury money derived from the sale of bonds that cannot or will not in the due […]

20-48-3-6. Temporary Transfers; Proceeds of Bonds

Sec. 6. (a) A school city wishing to make a temporary loan for its operations fund under this section may temporarily borrow money, without payment of interest, from the school city’s treasury if the school city has in its treasury money derived from the sale of bonds that cannot or will not in the due […]

20-48-3-7. Requirements; Repayment of Obligations

Sec. 7. A school city shall provide for the payment and retirement of debt obligations of the school city in the manner provided under IC 20-46-7, IC 20-48-1-6, and IC 20-48-1-11. [Pre-2006 Recodification Citation: 20-25-4-9.] As added by P.L.2-2006, SEC.171.

20-48-3-7. Requirements; Repayment of Obligations

Sec. 7. A school city shall provide for the payment and retirement of debt obligations of the school city in the manner provided under IC 20-46-7, IC 20-48-1-6, and IC 20-48-1-11. [Pre-2006 Recodification Citation: 20-25-4-9.] As added by P.L.2-2006, SEC.171.

20-48-3-8. Maximum Obligation

Sec. 8. (a) The board may not create debt exceeding twenty-five thousand dollars ($25,000) in total, except: (1) as otherwise provided in IC 20-25-4 or this chapter; or (2) for debts that exist after March 8, 1931, that are authorized by the general school laws of Indiana, including debt incurred under IC 21-4-20, IC 20-26-1, […]

20-48-3-8. Maximum Obligation

Sec. 8. (a) The board may not create debt exceeding twenty-five thousand dollars ($25,000) in total, except: (1) as otherwise provided in IC 20-25-4 or this chapter; or (2) for debts that exist after March 8, 1931, that are authorized by the general school laws of Indiana, including debt incurred under IC 21-4-20, IC 20-26-1, […]