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DIGEST OF INTRODUCED BILL
School corporation bonds for retirement liability. Permits a school corporation to issue bonds one time before January 1, 2006, to cover retirement or severance liability if the school corporation did not issue bonds for that purpose under a prior statute that has been repealed. Requires a school corporation that issues bonds for this purpose to reduce the property tax levy for certain other funds of the school corporation in an amount equal to the property tax levy needed for debt service on the bonds.