Performance Services, Inc. v. Randolph Eastern School Corporation

Summary

The Indiana Supreme Court held that the school corporation’s wind-turbine agreement was an unauthorized investment because it committed public money in hopes of obtaining a financial return. Although the agreement provided educational access to the turbine, its payment credits and remittance provisions tied the school corporation’s financial benefits to the turbine’s net revenue. Because the investment exceeded the school corporation’s statutory authority, the contract was void and unenforceable, and summary judgment for the school corporation was affirmed.