Sec. 10. (a) Except as otherwise provided by law, a school corporation may not pay from the fund the principal of emergency and temporary loans obtained for the benefit of any other fund.
(b) Except as provided in IC 20-48-1-7 and IC 20-48-1-9, payment of interest on emergency and temporary loans must be received in and disbursed from the fund.
[Pre-2006 Recodification Citation: 21-2-4-2 part.]
As added by P.L.2-2006, SEC.163.
Structure Indiana Code
Article 40. Government Funds and Accounts
20-40-9-4. Establishment of Fund
20-40-9-5. Uses; Required Use of Fund
20-40-9-6. Uses; Payment of Debt and Lease Expenses
20-40-9-7. Use of Money; Curricular Material
20-40-9-8. Uses; Lease Rentals; Prohibition on Lease Payments From the Education Fund
20-40-9-9. Uses; Community School Corporations
20-40-9-10. Limitation on Payment of Principal; Emergency and Temporary Loans