Note: This version of section amended by P.L.241-2017, SEC.6, effective 4-28-2017. See also following version of this section amended by P.L.244-2017, SEC.11, effective 1-1-2019.
(b) The governing body or the superintendent of a school corporation may do any of the following:
- (1) File a petition with the board seeking relief under section 8.3 of this chapter.
- (2) File a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.
- (3) File a petition with the board requesting authority to transfer before July 1, 2015, excess funds in the school corporation's debt service fund to the school corporation's transportation fund as provided in section 8.4 of this chapter.
- (c) If the treasurer of state has reason to believe that a school corporation will not be able to pay the school corporation's debt service obligations (as defined in IC 20-48-1-11 ) as those debt service obligations become due, the treasurer of state may file a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.
- (d) The board may adopt procedures governing the timing and required content of a petition under subsection (a) or (c).
Sec. 6. (a) The fiscal body and the executive of a political subdivision may jointly file a petition with the board seeking to have the political subdivision designated as a distressed political subdivision under this chapter.
As added by P.L.224-2007, SEC.36. Amended by P.L.146-2008, SEC.205; P.L.145-2012, SEC.5; P.L.257-2013, SEC.20; P.L.241-2017, SEC.6.