Indiana Code 20-48-1-1. Powers; conditions and issuance of bonds; improvement of real estate
(1) construction, reconstruction, remodeling, alteration, or repair of buildings or additions to buildings;
Terms Used In Indiana Code 20-48-1-1
- 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.
(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.
[Pre-2006 Recodification Citation: 21-2-21-1.]
As added by P.L.2-2006, SEC.171. Amended by P.L.184-2015, SEC.11; P.L.244-2017, SEC.112; P.L.250-2023, SEC.41.