Indiana § 20-48-3-8 - Maximum obligation
Full text of Indiana Indiana Code § 20-48-3-8 — Maximum obligation, with citation guidance and answers to common questions.
§ 20-48-3-8. Maximum obligation
Sec. 8. (a) The board may not create debt exceeding twenty-five thousand dollars ($25,000) in total, except:
(1) as otherwise provided in IC 20-25-4 or this chapter; or
(2) for debts that exist after March 8, 1931, that are authorized by the general school laws of Indiana, including debt incurred under IC 21-4-20, IC 20-26-1, IC 20-26-2, IC 20-26-3, IC 20-26-4, IC 20-26-5, IC 20-26-7, and IC 20-41-1.
(b) Notwithstanding subsection (a), the board is liable for the board's lawful contracts with persons rendering services and furnishing materials incident to the ordinary current operations of the board's schools if the contracts have been entered into as provided in this chapter and in accordance with law. The obligations of the board to persons rendering services or furnishing materials is not limited or prohibited by IC 20-25-4 or this chapter.
[Pre-2006 Recodification Citations: subsection (a) formerly 20-25-4-10(a); subsection (b) formerly 20-25-4-10(b).]
As added by P.L.2-2006, SEC.171.
IC 20-48-4Chapter 4. Township School Building
20-48-4-1Application 20-48-4-2Powers; township trustee; issuance of warrants or bonds 20-48-4-2Powers; township trustee; issuance of warrants or bonds 20-48-4-3Preparation of specifications for bidders; competitive bids; contracts 20-48-4-4Effect of noncompliance with law 20-48-4-5Application 20-48-4-6Petition; alteration, construction, or addition of school building 20-48-4-7Approval by department of local government finance 20-48-4-8Powers; issuance of bonds 20-48-4-9Joint action; township trustee; school township
Frequently Asked Questions About Indiana § 20-48-3-8
What does Indiana Code § 20-48-3-8 cover?
Section 20-48-3-8 ("Maximum obligation") 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 § 20-48-3-8?
A common citation format is "Indiana Code § 20-48-3-8" (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 § 20-48-3-8 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.