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Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 20. A school corporation that executes a lease under this chapter shall annually appropriate from its debt service fund or general fund (before January 1, 2019) or operations fund (after December 31, 2018) an amount sufficient to pay the lease rental required under the lease. The appropriation is reviewable by other bodies vested by law with such authority to ascertain that the specified amount is sufficient to meet the lease rental required under the lease. The first specific appropriation shall be made at the first budget period following the date of the execution of the lease, and the first annual appropriation must be sufficient to pay the estimated amount of the first annual lease rental payment to be made under the lease. Thereafter, the annual appropriations provided for in this section shall be made, and payments shall be made from the debt service fund.
Cite this article: FindLaw.com - Indiana Code Title 20. Education § 20-47-2-20 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-20-education/in-code-sect-20-47-2-20/
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