A school corporation or the public education corporation that decides to exercise an option to purchase a school building under this chapter may issue general obligation bonds to procure funds to pay the cost of acquisition. General obligation bonds issued under this section must be authorized, issued, and sold in the manner provided for the authorization, issuance, and sale of bonds by school corporations or the public education corporation for school building purposes.

[Pre-2006 Recodification Citation: 21-5-11-12.]

As added by P.L.2-2006, SEC.170. Amended by P.L.101-2026, SEC.36.