2020 Indiana Code
Title 20. Education
Article 48. Borrowing and Bonds
Chapter 1. Borrowing and Bonds
20-48-1-1. Powers; Conditions and Issuance of Bonds; Improvement of Real Estate

Universal Citation: IN Code § 20-48-1-1 (2020)

Sec. 1. (a) As used in this section, "improvement of real estate" includes:

(1) construction, reconstruction, remodeling, alteration, or repair of buildings or additions to buildings;

(2) equipment related to activities specified in subdivision (1); and

(3) auxiliary facilities related to activities specified in subdivision (1), including facilities for:

(A) furnishing water, gas, and electricity;

(B) carrying and disposing of sewage and storm and surface water drainage;

(C) housing of school owned buses;

(D) landscaping of grounds; and

(E) construction of walks, drives, parking areas, playgrounds, or facilities for physical training.

(b) Subject to IC 5-1-11.5 and IC 5-3-1-3(h), a school corporation is authorized to issue bonds to pay the:

(1) cost of acquisition and improvement of real estate for school purposes;

(2) funding of judgments;

(3) cost of the purchase of school buses; and

(4) incidental expenses incurred in connection with and on account of the issuance of the bonds.

[Pre-2006 Recodification Citation: 21-2-21-1.]

As added by P.L.2-2006, SEC.171. Amended by P.L.184-2015, SEC.11; P.L.244-2017, SEC.112.

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