Ind. Code § 20-40-9-6
Uses; payment of debt and lease expenses
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2023
As of January 1, 2018
Note: This version of section effective until 1-1-2019. See also following version of this section, effective 1-1-2019.
Sec. 6. Money in the fund may be used for payment of the following:
Sec. 6. Money in the debt service fund may be used for payment of the following:
(1) All debt and other obligations arising out of funds borrowed or advanced for school buildings when purchased from the proceeds of a bond issue for capital construction.
(1) All debt and other obligations arising out of funds borrowed or advanced for school buildings when purchased from the proceeds of a bond issue for capital construction.
(2) A lease to provide capital construction.
(2) A lease to provide capital construction.
(3) Interest on emergency and temporary loans.
(3) Interest on emergency and temporary loans.
(4) All debt and other obligations arising out of funds borrowed or advanced for the purchase or lease of school buses when purchased or leased from the proceeds of a bond issue, or from money obtained from a loan made under IC 20-27-4-5, for that purpose.
(4) All debt and other obligations arising out of funds borrowed or advanced for the purchase or lease of school buses when purchased or leased from the proceeds of a bond issue, or from money obtained from a loan made under IC 20-27-4-5, for that purpose.
(5) All debt and other obligations arising out of funds borrowed to pay judgments against the school corporation.
(5) All debt and other obligations arising out of funds borrowed to pay judgments against the school corporation.
(6) All debt and other obligations arising out of funds borrowed to purchase equipment.
(6) All debt and other obligations arising out of funds borrowed to purchase equipment.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.