Ind. Code » Title 20
Indiana Code

Ind. Code § 20-40-9-6 (2026)

Uses; payment of debt and lease expenses

✓ current as of May 2026
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     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.

(2) A lease to provide capital construction.

(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.

(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.

[Pre-2006 Recodification Citation: 21-2-4-2 part.]

As added by P.L.2-2006, SEC.163. Amended by P.L.257-2013, SEC.38; P.L.85-2017, SEC.82; P.L.244-2017, SEC.80.

 

Notes of Decisions
Cited in 1 case, 2012–2012 · leading case: Parker v. Franklin Cnty. Cmty. Sch. Corp., 667 F.3d 910 (7th Cir. 2012).
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Parker v. Franklin Cnty. Cmty. Sch. Corp., 667 F.3d 910 (7th Cir. 2012). “” Ind.Code § 20-40-9-6(c). This can be funded through a property tax levy.”
Ind. Code § 20-40-9-6(c): 1 case
Parker v. Franklin Cnty. Cmty. Sch. Corp., 667 F.3d 910 (7th Cir. 2012). “” Ind.Code § 20-40-9-6(c). This can be funded through a property tax levy.”
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