Indiana Code 20-42-1-13. Distribution of loaned amount from fund
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Terms Used In Indiana Code 20-42-1-13
- fund: refers to a common school fund administered by a county. See Indiana Code 20-42-1-2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Sec. 13. After the obligation is deposited with the county auditor under section 12 of this chapter, the county auditor shall issue a warrant to the county treasurer, to be paid to the county for the amount of money specified in the ordinance and obligation. When the warrant is presented to the county treasurer, the treasurer shall transfer from the fund the amount contained in the warrant from the principal sum of the fund to the credit of the county revenue of the county. Funds transferred under this section become a part of the general revenue funds of the county.
[Pre-2006 Recodification Citation: 21-1-7-5.]
As added by P.L.2-2006, SEC.165.