1. (a) A library district may establish a capital projects fund.

2. (b) With respect to a facility used or to be used by the library district, the fund may be used to pay for the following:

   1. (1) Planned construction, repair, replacement, or remodeling.
   2. (2) Site acquisition.
   3. (3) Site development.
   4. (4) Repair, replacement, or site acquisition that is necessitated by an emergency.
3. (c) Money in the fund may be used to pay for the purchase, lease, or repair of equipment to be used by the library district.

4. (d) The fund may be used to pay for the purchase, lease, upgrading, maintenance, or repair of computer hardware or software.

   [Pre-2005 Elementary and Secondary Education Recodification Citation: 20-14-13-4.]

As added by P.L.1-2005, SEC.49.