Sec. 4. (a) The governing body of each school corporation shall establish a levy in every calendar year sufficient to pay all obligations.
(b) This subsection applies to a school corporation that consolidates under IC 20-23-6-12.5. The governing body shall establish a levy for each subunit (as defined in IC 20-23-6-0.5) in each calendar year sufficient to pay the debts and obligations that the particular subunit incurred before consolidating with one (1) or more school corporations under IC 20-23-6-12.5.
[Pre-2006 Recodification Citation: 21-2-4-3 part.]
As added by P.L.2-2006, SEC.169. Amended by P.L.169-2017, SEC.9.
Structure Indiana Code
Article 46. Levies Other Than General Fund Levies
20-46-7-5. Conditions; Levy in Excess of Advertised Levy
20-46-7-6. Levy; Advance From State
20-46-7-7. Levy; Advance; Common School Fund
20-46-7-8. School Bus Purchases or Leases; Exemptions From Restrictions
20-46-7-9. Review by Department of Local Government Finance
20-46-7-10. Approval; Required Study of Classroom Space
20-46-7-11. Approval; Factors Considered; No Authority to Review or Approve Financing
20-46-7-12. Maximum Term of Bonds
20-46-7-14. Payments Toward Principal Required on at Least Annual Basis