Indiana Code 20-40-9-11. Uses; principal and interest; state advance
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Terms Used In Indiana Code 20-40-9-11
- debt service: includes bonds and coupons, civil bond obligations, lease rental contracts, and interest cost on emergency and temporary loans. See Indiana Code 20-40-9-1
- fund: refers to a debt service fund established under section 4 of this chapter. See Indiana Code 20-40-9-2
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 11. An amount equal to deductions made or to be made in the current year for the payment of principal and interest on an advancement from any state fund (including the common school fund and the veterans memorial school construction fund) may be included in debt service and appropriated and paid to the education fund.
[Pre-2006 Recodification Citation: 21-2-4-5.]
As added by P.L.2-2006, SEC.163. Amended by P.L.244-2017, SEC.83.