Sec. 9. (a) It is the main purpose of this chapter that the identity of the principal of gifts, bequests, and devises to the state's public schools may not be lost and that the income from investment of the gifts, bequests, and devises shall be used in giving students the public education and library advantages that could not be enjoyed if only the school and library revenue and income provided by law were available.
(b) Sections 6 through 9 of this chapter may not be construed as a limitation against the investment and reinvestment either by the school corporation itself or the trustees appointed under section 8 of this chapter, as the safety of the fund or the best interests of the recipient school corporation require.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-20-5.]
As added by P.L.1-2005, SEC.10.
Structure Indiana Code
Article 26. School Corporations: General Administrative Provisions
Chapter 7. Property and Eminent Domain
20-26-7-0.4. Issuance of Bonds or Execution of Lease Under Prior Law Before May 1, 1995
20-26-7-1. Sale or Exchange of Unneeded Property
20-26-7-2. Property Damage; Insurance Proceeds
20-26-7-5. Conveyance of School Property to City Authorized
20-26-7-6. Property Acquired by Conditional Gift or Bequest; Annexation
20-26-7-7. Unconditional Devise or Bequest
20-26-7-8. Appointment of Trustees to Manage Property Acquired by Gift or Bequest
20-26-7-9. Purpose and Construction of Statutes Concerning Property Acquired by Gift or Bequest
20-26-7-13. Eminent Domain; Petition for Appointment of Appraisers
20-26-7-14. Eminent Domain; Appointment of Appraisers
20-26-7-15. Eminent Domain; Oath of Appraisers; Payment of Damages; Trial; Appeal
20-26-7-27. Inspection of Heating Systems and Fuel Lines Used for School Purposes
20-26-7-27.5. Abatement of Certain Violations
20-26-7-28. Record and Report of Heating System and Fuel Line Inspection
20-26-7-36. School Building Construction or Alteration; Feasibility Study
20-26-7-37. School Building Construction or Alteration; Hearing and Notice
20-26-7-38. School Building Construction or Alteration; Resolution
20-26-7-39. Sale or Exchange of Unneeded School Property to State; Terms of Agreement
20-26-7-40. Sale or Exchange of Unneeded School Property to State; Execution of Deed
20-26-7-41. Township Schools; Sale of Unused School Land
20-26-7-42. Township Schools; Subsequent Conveyance to Correct Error in Prior Conveyance
20-26-7-46. Requirements for Contracts as a Design Professional for a Controlled Project