The School Law of Indiana

Cover The School Law of Indiana
The School Law of Indiana
Statutes Indiana Laws
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3. BASIS OF VALUATION ASSESSMENT BASED ON CIVIL, CORPORATION NOT ON SCHOOL CORPORATION. It has been asked whether the Town Trustees of an in- corporated town in issuing bonds for a school building in accordance with 4488 base the issue, as to amount on the value of property in the town increased by the value of the property of persons transferred to the town for school purposes.
The corporation can not become indebted for any purpose to an amount in e aggregate exceeding two per centum in the v
...alue of the taxable property within such corporation, to be ascertained by the last assessment for State and county taxes previous to the incurring of such indebtedness. R. S. 1881, 2

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