Sec. 8.3. After the board receives a petition concerning a school corporation under section 6(b)(1) of this chapter, the board shall review the school corporation's request for a loan from the counter-cyclical revenue and economic stabilization fund under IC 6-1.1-21.4-3(b). The board shall make a recommendation to the state board of finance regarding the loan request. The board may consider whether a school corporation has attempted to secure temporary cash flow loans from the Indiana bond bank or a financial institution in making its recommendation.
As added by P.L.145-2012, SEC.10. Amended by P.L.257-2013, SEC.23.
Structure Indiana Code
Chapter 20.3. Distressed Political Subdivisions
6-1.1-20.3-1. "Distressed Unit Appeal Board"
6-1.1-20.3-2. "Distressed Political Subdivision"
6-1.1-20.3-3. "Political Subdivision"
6-1.1-20.3-4. Board Established; Members
6-1.1-20.3-5. Staff; Executive Director Duties; Rules; Funding; Contracts
6-1.1-20.3-6. Petitions to the Board; Petition by Treasurer of State
6-1.1-20.3-6.5. Designation of Distressed Political Subdivisions; Annual Review; Notice
6-1.1-20.3-7.1. Muncie Community School Corporation; Loan
6-1.1-20.3-8.3. Review of School Corporation Petition for a Loan
6-1.1-20.3-8.5. Powers and Duties of Emergency Manager
6-1.1-20.3-8.7. Restrictions on School Corporations Designated as Distressed
6-1.1-20.3-9. Record of Proceedings; Open Door Law
6-1.1-20.3-9.9. Petition to Board Appealing Decision by Emergency Manager
6-1.1-20.3-10. Petition for Judicial Review
6-1.1-20.3-11. Court Rules; Procedure
6-1.1-20.3-12. Burden of Proof; Findings of Fact; Grounds for Relief
6-1.1-20.3-13. Petition for Termination of Distressed Status; Conditions for Termination
6-1.1-20.3-15. Requests for Technical Assistance From the Board
6-1.1-20.3-16. Distressed School Corporations; Governing Body; Employee Reductions