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Indiana Code Title 20. Education § 20-49-2-9

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

Sec. 9. A nondisaster advancement to any school corporation under section 10 of this chapter may not exceed two hundred fifty thousand dollars ($250,000).  However, this dollar limitation is waived if:

(1) the school corporation has an assessed valuation per ADA of less than eight thousand four hundred dollars ($8,400);  and

(2) the school corporation's debt service fund tax rate would exceed one dollar ($1) for each one hundred dollars ($100) of assessed valuation without a waiver of the dollar limitation.

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Cite this article: FindLaw.com - Indiana Code Title 20. Education § 20-49-2-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-20-education/in-code-sect-20-49-2-9/

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