Partnertax.ai
Start free trial →

Indiana Code — Title 6 (Taxation)

IC 6-1.1-21.4-7

Failure to repay loan

Official textiga.in.govlast amended

Sec. 7. Upon the failure of a school corporation to repay any of the school corporation's obligations under this chapter during a calendar year when due, the treasurer of state, upon being notified of the failure by the board, shall pay the unpaid obligations that are due from money in the possession of the state that would otherwise be available for distribution to the school corporation under any other law, deducting the payment from the amount distributed.
However, the treasurer of state may not impair the rights of the school corporation's bondholders.
As added by P.L.145-2012, SEC.21.

Amendment history

As added by P.L.145-2012, SEC.21.

Source: view the official text

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
Nearby sections (25 sections)
  1. 6-1.1-21.3-2 · Qualifying taxing unit may apply to board for loan
  2. 6-1.1-21.3-3 · Determination of terms of loan by board; loan conditions;
  3. 6-1.1-21.3-4 · Certain amounts not considered for determination of levy
  4. 6-1.1-21.3-5 · Loan not bonded indebtedness
  5. 6-1.1-21.4-0.5 · "ADM"
  6. 6-1.1-21.4-1 · "Board"
  7. 6-1.1-21.4-2 · "Eligible school corporation"
  8. 6-1.1-21.4-3 · Eligible school corporation; maximum loan; loan terms
  9. 6-1.1-21.4-3.5 · Termination of authority to make loans
  10. 6-1.1-21.4-4 · Board determination of loan amount; disbursement of…
  11. 6-1.1-21.4-5 · Effects on levy excess funds
  12. 6-1.1-21.4-6 · Loan is not bonded indebtedness
  13. 6-1.1-21.4-7 · Failure to repay loan
  14. 6-1.1-21.5-1 · "Qualified taxing unit"
  15. 6-1.1-21.5-2 · "Board"
  16. 6-1.1-21.5-3 · Loan application; prerequisites to grant of loan
  17. 6-1.1-21.5-4 · Maximum amount of loan
  18. 6-1.1-21.5-5 · Terms of loan; interest; repayment; depository
  19. 6-1.1-21.5-6 · Loan proceeds and delinquent tax payments; levy excess
  20. 6-1.1-21-5 · (before its repeal) in respect to such taxes is considered…
  21. 6-1.1-21.8-1 · "Board" defined
  22. 6-1.1-21.8-2 · "Qualified taxing unit"
  23. 6-1.1-21.8-3 · Loan application; prerequisites to grant of loan
  24. 6-1.1-21.8-4 · Loan terms; repayment schedule
  25. 6-1.1-21.8-5 · Maximum loan amount for a particular qualified taxing…
Full table of contents →