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2018 Indiana Code
TITLE 20. Education
ARTICLE 42. FIDUCIARY FUNDS AND ACCOUNTS
CHAPTER 2. County Administration of Congressional Township School Fund
20-42-2-11. Minimum balance; loans; maximum term
Universal Citation: IN Code § 20-42-2-11 (2018)
IC 20-42-2-11 Minimum balance; loans; maximum term
Sec. 11. In a county where the total amount in the:
(1) common school fund; or
(2) fund;
accumulates to the amount of at least one thousand dollars ($1,000), a county may borrow and use the funds, or any part of the funds, for any lawful purpose for a period not exceeding five (5) years.
[Pre-2006 Recodification Citation: 21-1-7-3 part.]
As added by P.L.2-2006, SEC.165. Amended by P.L.162-2006, SEC.41.
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