Indiana § 16-22-5-17 - Loans
Full text of Indiana Indiana Code § 16-22-5-17 — Loans, with citation guidance and answers to common questions.
§ 16-22-5-17. Loans
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.
[Pre-1993 Recodification Citation: 16-12.1-4-7.]
As added by P.L.2-1993, SEC.5.
Frequently Asked Questions About Indiana § 16-22-5-17
What does Indiana Code § 16-22-5-17 cover?
Section 16-22-5-17 ("Loans") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 16-22-5-17?
A common citation format is "Indiana Code § 16-22-5-17" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 16-22-5-17 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.