Sec. 10. Subject to section 15 of this chapter (before its expiration), on July 1 of each year, the state board shall determine whether a freeway school corporation or freeway school that has completed:

(1) a second, third, or fourth complete school year under a contract entered under this chapter has achieved the scheduled improvement in educational benefits that the freeway school corporation or freeway school has agreed to achieve;

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Terms Used In Indiana Code 20-26-15-10

  • Contract: A legal written agreement that becomes binding when signed.
  • contract: refers to a contract entered into under this chapter for the establishment of:

    Indiana Code 20-26-15-1

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • freeway school: refers to :

    Indiana Code 20-26-15-2

  • freeway school corporation: refers to a school corporation that enters into a contract under this chapter. See Indiana Code 20-26-15-3
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) a fifth complete school year under a contract entered under this chapter has achieved the educational benefits that the freeway school corporation or freeway school has agreed to achieve; or

(3) more than five (5) full school years under a contract entered under this chapter has maintained the educational benefits that the freeway school corporation or freeway school has agreed to maintain.

[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-62-10.]

As added by P.L.1-2005, SEC.10. Amended by P.L.108-2018, SEC.3.

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