Indiana § 20-40-9-6 - Uses; payment of debt and lease expenses
Full text of Indiana Indiana Code § 20-40-9-6 — Uses; payment of debt and lease expenses, with citation guidance and answers to common questions.
§ 20-40-9-6. Uses; payment of debt and lease expenses
Sec. 6. Money in the debt service fund may be used for payment of the following:
(1) All debt and other obligations arising out of funds borrowed or advanced for school buildings when purchased from the proceeds of a bond issue for capital construction.
(2) A lease to provide capital construction.
(3) Interest on emergency and temporary loans.
(4) All debt and other obligations arising out of funds borrowed or advanced for the purchase or lease of school buses when purchased or leased from the proceeds of a bond issue, or from money obtained from a loan made under IC 20-27-4-5, for that purpose.
(5) All debt and other obligations arising out of funds borrowed to pay judgments against the school corporation.
(6) All debt and other obligations arising out of funds borrowed to purchase equipment.
[Pre-2006 Recodification Citation: 21-2-4-2 part.]
As added by P.L.2-2006, SEC.163. Amended by P.L.257-2013, SEC.38; P.L.85-2017, SEC.82; P.L.244-2017, SEC.80.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-40-9-6
What does Indiana Code § 20-40-9-6 cover?
Section 20-40-9-6 ("Uses; payment of debt and lease expenses") 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 § 20-40-9-6?
A common citation format is "Indiana Code § 20-40-9-6" (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 § 20-40-9-6 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.