Limitation; total loans from fund

Ind. Code § 20-49-2-5, under Chapter 2. Administration of Veterans Memorial School Construction Fund; School Disaster Loan Fund.

Ind. Code § 20-49-2-5

Sec. 5. The state board may not order advancements under this chapter during any fiscal year that in total exceed the sum of:

(1) the balance remaining in the veterans memorial school construction fund at the end of the preceding fiscal year; and (2) all accruals and transfers to the veterans memorial school construction fund. [Pre-2006 Recodification Citation: 21-1-11-9(b).] As added by P.L.2-2006, SEC.172.