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Indiana Code Title 20. Education § 20-49-4-16

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

Sec. 16. (a) Money advanced to a school corporation or charter school for an educational technology program may be for a period not exceeding five (5) years.  The school corporation or charter school to which an advance is made shall pay interest on the advance.  Advances for educational technology programs may be prepaid at any time.

(b) The state board of finance shall periodically establish the rate or rates of interest payable on advances for educational technology programs as long as the established interest rate or rates:

(1) are not less than one percent (1%);  and

(2) do not exceed four percent (4%).

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Cite this article: FindLaw.com - Indiana Code Title 20. Education § 20-49-4-16 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-20-education/in-code-sect-20-49-4-16/

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