Indiana § 20-46-7-14 - Payments toward principal required on at least annual basis
Full text of Indiana Indiana Code § 20-46-7-14 — Payments toward principal required on at least annual basis, with citation guidance and answers to common questions.
§ 20-46-7-14. Payments toward principal required on at least annual basis
Sec. 14. After May 15, 2007, the department of local government finance may not approve under section 9 of this chapter a school corporation's proposed:
(1) bond issue that does not provide for payments toward the principal of the bonds on at least an annual basis in the amount determined under the rules or guidelines adopted by the department of local government finance;
(2) lease rental agreement that does not provide for repayments toward the present asset value of the lease at its inception on at least an annual basis in the amount determined under the rules or guidelines adopted by the department of local government finance; or
(3) debt service fund loan to purchase school buses that does not provide for payments toward the principal of the loan on at least an annual basis in the amount determined under the rules or guidelines adopted by the department of local government finance.
As added by P.L.224-2007, SEC.119.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-46-7-14
What does Indiana Code § 20-46-7-14 cover?
Section 20-46-7-14 ("Payments toward principal required on at least annual basis") 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 § 20-46-7-14?
A common citation format is "Indiana Code § 20-46-7-14" (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 § 20-46-7-14 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.