{"data":{"id":"us-in/ic-20-48-1-1","jurisdiction":"us-in","citation":"IC 20-48-1-1","heading":"Powers; conditions and issuance of bonds; improvement of real estate","body":"Sec. 1. (a) As used in this section, \"improvement of real estate\" includes:\n(1) construction, reconstruction, remodeling, alteration, or repair of buildings or additions to buildings;\n(2) equipment related to activities specified in subdivision (1); and\n(3) auxiliary facilities related to activities specified in subdivision (1), including facilities for:\n(A) furnishing water, gas, and electricity;\n(B) carrying and disposing of sewage and storm and surface water drainage;\n(C) housing of school owned buses;\n(D) landscaping of grounds; and\n(E) construction of walks, drives, parking areas, playgrounds, or facilities for physical training.\n(b) Subject to IC 5-1-11.5, a school corporation is authorized to issue bonds to pay the:\n(1) cost of acquisition and improvement of real estate for school purposes;\n(2) funding of judgments;\n(3) cost of the purchase of school buses; and\n(4) incidental expenses incurred in connection with and on account of the issuance of the bonds.","path":["TITLE 20. EDUCATION","ARTICLE 48. BORROWING AND BONDS","Chapter 1. Borrowing and Bonds"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-48-1-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"306d4cafc6968b2d193e05d8cc7c2bb124045be87d5a3e8e9d6cdfd545e4276e","source_id":"us-in","stale":false,"prev":"us-in/ic-20-47-5-2","next":"us-in/ic-20-48-1-2"},"notice":"GroundRules: Original legal text. Not legal advice."}