Duty; rate necessary to pay obligations

Sec. 3. The governing body shall annually levy a rate that will produce a sum sufficient to meet all payments of principal and interest as they mature in the year for which the levy is made on the: (1) bonds; (2) notes; or (3) other obligations; of the school corporation. [Pre-2006 Recodification Citation: 20-23-16-4(c).] As added by P.L.2-2006, SEC.167.