When the Board of School Trustees determines that an emergency condition exists within a particular fund(s) and that the revenue being generated will not meet the current projected needs, the Superintendent may initiate procedures to acquire the necessary revenue from emergency loans, advance draws, or tax anticipation warrants.

The appropriate bid procedure is to be followed for all short-term loans authorized by the Board. Funds are to be borrowed from the institutions or organizations offering the terms most favorable to the School Corporation following approval by the Board.

I.C. 20-2-21-6 thru 8