Indiana § 20-46-7-12 - Maximum term of bonds
Full text of Indiana Indiana Code § 20-46-7-12 — Maximum term of bonds, with citation guidance and answers to common questions.
§ 20-46-7-12. Maximum term of bonds
Sec. 12. (a) Except as provided by IC 5-1-14-10 and subsection (c), the maximum term or repayment period for bonds issued by a school corporation for a school building construction project may not exceed twenty (20) years after the date of the issuance of the bonds.
(b) If a school corporation is an eligible school corporation under IC 5-1-5-2.5 or IC 5-1-5-2.6, the school corporation may extend the repayment period beyond the maximum repayment period that applied to the bond, loan, or lease at the time the obligation was incurred as provided by IC 5-1-5-2.5 or IC 5-1-5-2.6.
(c) Except as provided by IC 5-1-14-10, the maximum term or repayment period for bonds issued by a school corporation for a school building construction project and to repay loans made or guaranteed by a federal agency may not exceed forty (40) years after the date of the issuance of the bonds.
[Pre-2006 Recodification Citation: 6-1.1-19-4.6.]
As added by P.L.2-2006, SEC.169. Amended by P.L.146-2008, SEC.514; P.L.229-2011, SEC.220; P.L.159-2020, SEC.63; P.L.157-2026, SEC.214.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-46-7-12
What does Indiana Code § 20-46-7-12 cover?
Section 20-46-7-12 ("Maximum term of bonds") 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 § 20-46-7-12?
A common citation format is "Indiana Code § 20-46-7-12" (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 § 20-46-7-12 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.