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IN HB1632
Bill
Status
1/24/2017
Primary Sponsor
Vernon Smith
Click for details
AI Summary
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Appropriates $50,240,000 from the state general fund to the Indiana Department of Education for the state fiscal year beginning July 1, 2017.
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Requires the Department of Education to allot the appropriation before July 31, 2017.
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Directs the Department of Education to use funds to pay two specific bond obligations of the Gary Community School Corporation: $11,580,000 to The Bank of New York (Ad Valorem 2012 Series) and $38,660,000 to US Bank for multiple bond series.
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Requires the Gary Community School Corporation to provide necessary information to the Department of Education for issuing warrants to the state auditor.
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The section expires June 30, 2019.
Legislative Description
Gary Community School Corporation. Appropriates $50,240,000 from the state general fund to the department of education to pay some of the bond obligations of the Gary Community School Corporation.
Last Action
First reading: referred to Committee on Ways and Means
1/24/2017