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. (1) bonds;
2. (2) notes; or

3. (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.