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Indiana Code Title 16. Health § 16-22-5-17

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 17. (a) The governing board may borrow money and may secure the borrowing by a pledge of the following:

(1) Amounts from the cumulative building fund.

(2) Accounts receivable.

(3) A security interest in capital equipment for which the proceeds of the loan is used.

(4) Other security, including the excess of unobligated revenues over operating expenses.

(b) The term of a loan may not exceed thirty-five (35) years.

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Cite this article: FindLaw.com - Indiana Code Title 16. Health § 16-22-5-17 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-16-health/in-code-sect-16-22-5-17/

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