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In May, 2001, Indiana became the 37th state to pass charter schools legislation. The new law gives the mayor of Indianapolis, among other entities, the authority to charter schools.
Charter schools are public schools that are freed from most of the regulations governing traditional schools. They control their own curriculum, staffing, organization and budget. In exchange for this freedom, they must meet the highest academic standards.
The "charter" is a performance contract entered into with a sponsor, such as a mayor or a school board, that explains what the school will attempt to accomplish, how student performance will be measured, and what level of achievement it will attain. A school that fails to comply with the terms of its charter may have its charter revoked.