Sec. 13. An advance to a school corporation for any school building construction program may not exceed the greater of the following:
(1) Fifteen million dollars ($15,000,000).
(2) The product of fifteen thousand dollars ($15,000) multiplied by the number of students accommodated as a result of the school building construction program.
However, if a school corporation has sustained loss by disaster, this limitation may be waived by the state board after consulting with the department and the budget agency.
[Pre-2006 Recodification Citation: 21-1-5-4(b).]
As added by P.L.2-2006, SEC.172.
Structure Indiana Code
Article 49. State Management of Common School Funds; State Advances and Loans
Chapter 4. Advancement From Common School Fund; Buildings; Technology Programs
20-49-4-1. Application; Reorganized Schools
20-49-4-2. Exemption for Procedures; Loss From Disaster
20-49-4-5. "Educational Technology Program"
20-49-4-7. "School Building Construction Program"
20-49-4-8. Power; State Board; Advance; Eligibility
20-49-4-9. Priority of Advances; School Building Construction Programs
20-49-4-10. Priority of Advances; Educational Technology Programs
20-49-4-12. Condition of Advance; Capital Projects Operations Fund
20-49-4-13. Maximum Advance; School Building Construction Program
20-49-4-14. Maximum Advance; Educational Technology Programs
20-49-4-15. Maximum Term of Advance; School Building Construction Program; Prepayment; Interest Rate
20-49-4-16. Maximum Term of Advance; Educational Technology Program; Prepayment; Interest Rate
20-49-4-17. Statutory Construction; Advance Not Treated as Debt of School Corporation
20-49-4-18. Repayment of Advance; Terms; State Tuition Support
20-49-4-19. Terms of Agreement; Right to Offset Advance Against State Tuition Support
20-49-4-20. Statutory Construction; Advance Not Treated as Debt of State