20-42-2-11. Minimum balance; loans; maximum term

IN Code § 20-42-2-11 (2019) (N/A)
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Sec. 11. In a county where the total amount in the:

(1) common school fund; or

(2) fund;

accumulates to the amount of at least one thousand dollars ($1,000), a county may borrow and use the funds, or any part of the funds, for any lawful purpose for a period not exceeding five (5) years.

[Pre-2006 Recodification Citation: 21-1-7-3 part.]

As added by P.L.2-2006, SEC.165. Amended by P.L.162-2006, SEC.41.