§ 20-42-1-1 Application
§ 20-42-1-2 “Fund”
§ 20-42-1-3 Sources of fund
§ 20-42-1-4 Prohibition on reducing principal of fund
§ 20-42-1-5 Transfer of fund balance to debt service fund and to the operations fund
§ 20-42-1-6 Transfer of custody of fund balance to state
§ 20-42-1-7 County liability for fund
§ 20-42-1-8 Deposit of interest in fund
§ 20-42-1-9 Required transfer of revenue to state
§ 20-42-1-10 Loans; required interest rate
§ 20-42-1-11 Minimum balance; loans; maximum term
§ 20-42-1-12 Form of loan agreement
§ 20-42-1-13 Distribution of loaned amount from fund
§ 20-42-1-14 Investments
§ 20-42-1-15 Receipts for payment of principal or interest on loan
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Terms Used In Indiana Code > Title 20 > Article 42 > Chapter 1 - Administration of Common School Fund by County

  • 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.
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • fund: refers to a common school fund administered by a county. See Indiana Code 20-42-1-2
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5