§ 20-40-9-1 “Debt service”
§ 20-40-9-2 “Fund”
§ 20-40-9-3 “Levy”
§ 20-40-9-4 Establishment of fund
§ 20-40-9-5 Uses; required use of fund
§ 20-40-9-6 Uses; payment of debt and lease expenses
§ 20-40-9-7 Use of money
§ 20-40-9-8 Uses; lease rentals; prohibition on lease payments from the education fund
§ 20-40-9-9 Uses; community school corporations
§ 20-40-9-10 Limitation on payment of principal; emergency and temporary loans
§ 20-40-9-11 Uses; principal and interest; state advance
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Terms Used In Indiana Code > Title 20 > Article 40 > Chapter 9 - Debt Service Fund

  • 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.
  • 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
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • levy: refers to a debt service levy under IC 20-46-7 for the fund. See Indiana Code 20-40-9-3
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5