Powers; conditions and issuance of bonds; improvement of real

estate Sec. 1. (a) As used in this section, "improvement of real estate" includes: (1) construction, reconstruction, remodeling, alteration, or repair of buildings or additions to buildings; (2) equipment related to activities specified in subdivision (1); and (3) auxiliary facilities related to activities specified in subdivision (1), including facilities for: (A) furnishing water, gas, and electricity; (B) carrying and disposing of sewage and storm and surface water drainage; (C) housing of school owned buses; (D) landscaping of grounds; and (E) construction of walks, drives, parking areas, playgrounds, or facilities for physical training. (b) Subject to IC 5-1-11.5, a school corporation is authorized to issue bonds to pay the: (1) cost of acquisition and improvement of real estate for school purposes; (2) funding of judgments; (3) cost of the purchase of school buses; and (4) incidental expenses incurred in connection with and on account of the issuance of the bonds. [Pre-2006 Recodification Citation: 21-2-21-1.] As added by P.L.2-2006, SEC.171. Amended by P.L.184-2015, SEC.11; P.L.244-2017, SEC.112; P.L.250-2023, SEC.41.