Sec. 8. (a) Lease rental obligations on account of leases entered into under IC 21-5-11 (before its repeal), IC 20-47-2, IC 21-5-12 (before its repeal), or IC 20-47-3 may be paid by a school corporation from the debt service fund.
(b) Payments described in subsection (a) must be provided for in the annual budget for the fund from which the payment is made.
(c) The payment of lease rental obligations from the education fund is prohibited.
[Pre-2006 Recodification Citation: 21-5-8-1.]
As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.82.
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