Indiana § 20-47-2-20 - Required levy; payment of obligations
Full text of Indiana Indiana Code § 20-47-2-20 — Required levy; payment of obligations, with citation guidance and answers to common questions.
§ 20-47-2-20. Required levy; payment of obligations
Sec. 20. A school corporation or the public education corporation that executes a lease under this chapter shall annually appropriate from its debt service fund or operations fund an amount sufficient to pay the lease rental required under the lease. The appropriation is reviewable by other bodies vested by law with such authority to ascertain that the specified amount is sufficient to meet the lease rental required under the lease. The first specific appropriation shall be made at the first budget period following the date of the execution of the lease, and the first annual appropriation must be sufficient to pay the estimated amount of the first annual lease rental payment to be made under the lease. Thereafter, the annual appropriations provided for in this section shall be made, and payments shall be made from the debt service fund.
[Pre-2006 Recodification Citation: 21-5-11-13.]
As added by P.L.2-2006, SEC.170. Amended by P.L.244-2017, SEC.108; P.L.101-2026, SEC.37.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-47-2-20
What does Indiana Code § 20-47-2-20 cover?
Section 20-47-2-20 ("Required levy; payment of obligations") 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 § 20-47-2-20?
A common citation format is "Indiana Code § 20-47-2-20" (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 § 20-47-2-20 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.