Sec. 8. (a) The board may not create debt exceeding twenty-five thousand dollars ($25,000) in total, except: (1) as otherwise provided in IC 20-25-4 or this chapter; or (2) for debts that exist after March 8, 1931, that are authorized by the general school laws of Indiana, including debt incurred under IC 21-4-20 , IC 20-26-1 , IC 20-26-2 , IC 20-26-3 , IC 20-26-4 , IC 20-26-5 , IC 20-26-7 , and IC 20-41-1 . (b) Notwithstanding subsection (a), the board is liable for the board's lawful contracts with persons rendering services and furnishing materials incident to the ordinary current operations of the board's schools if the contracts have been entered into as provided in this chapter and in accordance with law. The obligations of the board to persons rendering services or furnishing materials is not limited or prohibited by IC 20-25-4 or this chapter. [Pre-2006 Recodification Citations: subsection (a) formerly 20-25-4-10(a); subsection (b) formerly 20-25-4-10(b).] IC 20-48-4 Chapter 4. Township School Building 20-48-4-1 Application 20-48-4-2 Powers; township trustee; issuance of warrants or bonds 20-48-4-3 Preparation of specifications for bidders; competitive bids; contracts 20-48-4-4 Effect of noncompliance with law 20-48-4-5 Application 20-48-4-6 Petition; alteration, construction, or addition of school building 20-48-4-7 Approval by department of local government finance 20-48-4-8 Powers; issuance of bonds 20-48-4-9 Joint action; township trustee; school township
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