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Ind. Code § 20-48-1-1

Powers; conditions and issuance of bonds; improvement of real estate

Applied in 1 court decision — leading case Gary Community School Corp. v. Indiana Department of Local Government Finance (2014)

Most recently applied in Gary Community School Corp. v. Indiana Department of Local Government Finance (August 2014)

As added by P.L.2-2006, SEC.171

Sec. 1. (a) As used in this section, "improvement of real estate" includes:

(1) construction, reconstruction, remodeling, alteration, or repair of buildings or additions to buildings;

(2) equipment related to activities specified in subdivision (1); and

(3) auxiliary facilities related to activities specified in subdivision (1), including facilities for:

(A) furnishing water, gas, and electricity;

(B) carrying and disposing of sewage and storm and surface water drainage;

(C) housing of school owned buses;

(D) landscaping of grounds; and

(E) construction of walks, drives, parking areas, playgrounds, or facilities for physical training.

(b) Subject to IC 5-1-11.5, a school corporation is authorized to issue bonds to pay the:

(1) cost of acquisition and improvement of real estate for school purposes;

(2) funding of judgments;

(3) cost of the purchase of school buses; and

(4) incidental expenses incurred in connection with and on account of the issuance of the bonds.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.