Indiana Code 20-49-3-11. Advances permitted; counties managing a county common school fund
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Sec. 11. (a) This section applies to a county that:
(2) has an insufficient amount of unloaned money in the fund when added to the amount of unloaned money in the congressional township school fund, as shown by a report of the county auditor and county treasurer, to make all loans for which the county auditor has applications.
(1) has not elected to surrender custody of any part of the fund to the state; and
Terms Used In Indiana Code 20-49-3-11
- fund: refers to the common school fund in the custody of the treasurer of state. See Indiana Code 20-49-3-3
(b) Upon petition of the board of commissioners of the county, the state board of finance may allocate to the county making the application the amount that the state board of finance determines is necessary.
[Pre-2006 Recodification Citation: 21-1-3-8 part.]
As added by P.L.2-2006, SEC.172.