Ind. Code § 6-1.1-20.3-6
Petitions to the board; petition by treasurer of state
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. (a) The fiscal body and the executive of a political subdivision may jointly file a petition with the board seeking to have the political subdivision designated as a distressed political subdivision under this chapter.
Sec. 6. (a) The fiscal body and the executive of a political subdivision may jointly file a petition with the board seeking to have the political subdivision designated as a distressed political subdivision under this chapter.
(b) The governing body or the superintendent of a school corporation may do any of the following:
(b) The governing body or the superintendent of a school corporation may do any of the following:
(1) File a petition with the board seeking relief under section 8.3 of this chapter.
(1) File a petition with the board seeking relief under section 8.3 of this chapter.
(2) File a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.
(2) File a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.
(3) File a petition with the board requesting authority to transfer before July 1, 2015, excess funds in the school corporation's debt service fund to the school corporation's transportation fund as provided in section 8.4 of this chapter.
(c) If the treasurer of state has reason to believe that a school corporation will not be able to pay the school corporation's debt service obligations (as defined in IC 20-48-1-11) as those debt service obligations become due, the treasurer of state may file a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.
(c) If the treasurer of state has reason to believe that a school corporation will not be able to pay the school corporation's debt service obligations (as defined in IC 20-48-1-11) as those debt service obligations become due, the treasurer of state may file a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.
(d) The board may adopt procedures governing the timing and required content of a petition under subsection (a) or (c).
(d) The board may adopt procedures governing the timing and required content of a petition under subsection (a) or (c).
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.