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Indiana Code 6-1.1-20-2.5. Allocation of certain project costs

Terms Used In Indiana Code 6-1.1-20-2.5

  • 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.
  • project: means any project or purpose for which a political subdivision may issue bonds or enter into leases, including a sale-lease back of an existing building. See Indiana Code 6-1.1-20-1.7
Sec. 2.5. For purposes of this chapter, the cost of a project by a school corporation career and technical education school described in IC 20-37-1-1 that is funded through an advance from the common school fund under IC 20-49 shall be allocated among the organizing school corporations in the same manner as the advance is allocated under IC 20-49-4.

As added by P.L.246-2017, SEC.2.

Indiana Code 6-1.1-20.2-5. Interest on loan

Terms Used In Indiana Code 6-1.1-20.2-5

Sec. 5. Interest may be imposed on the loan at a rate determined by the board.

As added by P.L.182-2009(ss), SEC.150.