Indiana § 20-48-1-2.5 - Status of bonds issued under prior statute; debt service levies, property tax levies
Full text of Indiana Indiana Code § 20-48-1-2.5 — Status of bonds issued under prior statute; debt service levies, property tax levies, with citation guidance and answers to common questions.
§ 20-48-1-2.5. Status of bonds issued under prior statute; debt service levies, property tax levies
Sec. 2.5. Notwithstanding the repeal of IC 20-5-4-1.7, as added by P.L.253-2001, the following provisions apply to bonds issued under IC 20-5-4-1.7, as added by P.L.253-2001, before December 31, 2004:
(1) The bonds remain valid and binding obligations of the school corporation that issued them, as if IC 20-5-4-1.7 had not been repealed.
(2) Each year that a debt service levy is needed for the bonds, the school corporation that issued the bonds shall reduce its total property tax levy for the school corporation's operations fund in an amount equal to the property tax levy needed for the debt service on the bonds.
As added by P.L.220-2011, SEC.340. Amended by P.L.244-2017, SEC.114.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-48-1-2.5
What does Indiana Code § 20-48-1-2.5 cover?
Section 20-48-1-2.5 ("Status of bonds issued under prior statute; debt service levies, property tax levies") 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 § 20-48-1-2.5?
A common citation format is "Indiana Code § 20-48-1-2.5" (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 § 20-48-1-2.5 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.