2006 Indiana Code - CHAPTER 4. ADMINISTRATION OF COMMON SCHOOL FUND

IC 21-1-4
     Chapter 4. Administration of Common School Fund

IC 21-1-4-1
Intent and purpose of common school fund
     Sec. 1. (a) It is the duty of the general assembly under the Constitution of the State of Indiana to encourage by all suitable means moral, intellectual, scientific, and agricultural improvement and to provide, by law, for a general and uniform system of common schools, wherein tuition shall be without charge, and equally open to all.
    (b) It is the intent of the general assembly that:
        (1) the common school fund should be used to:
            (A) assist school corporations and school townships in financing their school building construction and educational technology programs; and
            (B) assist charter schools in financing their operations;
        as authorized by law and under circumstances such that the principal of the fund remains inviolate;
        (2) to the end described in subdivision (1), the common school fund may be used to make advances to:
            (A) school corporations and school townships under IC 21-1-5; and
            (B) charter schools under IC 20-24-7-3(f) and IC 21-1-32; and
        (3) this chapter is in furtherance of the duties which are imposed exclusively upon the general assembly by the Constitution of the State of Indiana in connection with the maintenance of a general and uniform system of common schools and the investment and reinvestment of the common school fund and shall be liberally construed to carry out the purposes of the Constitution of the State of Indiana.
    (c) In addition, the common school fund may be used to make advances under IC 21-1-5.1.
(Formerly: Acts 1953, c.141, s.1; Acts 1973, P.L.234, SEC.1.) As amended by P.L.28-1992, SEC.6; P.L.277-1993(ss), SEC.102; P.L.276-2003, SEC.20; P.L.1-2005, SEC.149.