Sec. 5. Subject to the requirements of this chapter, the Indiana bond bank may loan money from the fund to a school corporation to assist the school corporation in paying for:

(1) the installation of a geothermal heating and cooling system in a new facility; or

Terms Used In Indiana Code 20-20-37.4-5

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • fund: refers to the geothermal conversion revolving fund established by section 3 of this chapter. See Indiana Code 20-20-37.4-1
  • geothermal heating and cooling system: means a heating and cooling system that uses the natural temperature of the earth to generate heating and cooling. See Indiana Code 20-20-37.4-2
(2) the installation of a geothermal heating and cooling system that replaces a conventional heating and cooling system.

As added by P.L.99-2009, SEC.2.

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