§ 21-32-3-6 — Acceptability of bids

Indiana § 21-32-3-6

• Jurisdiction: Indiana
• Title 21: HIGHER EDUCATION
• Art. 32: STATE EDUCATIONAL INSTITUTIONS: BONDS
• Ch. 3: Sale of Bonds

Text

If no acceptable bid is received at the time
fixed for sale of the bonds at a public sale, the state educational
institution:
(1) may continue the sale from day to day for a period not to
exceed thirty (30) days without readvertising; and
(2) may not accept a bid during the continuation of the sale that
offers a higher interest cost than the best bid received at the time
fixed for the sale under section 3 of this chapter.
The acceptability of a bid is within the sole discretion of the state
educational institution issuing the bonds. A state educational institution
may not negotiate a sale for an issue of bonds without public bidding
under section 1 of this chapter until the thirty (30) day period required
by this section has passed for that issue if the state educational
institution has conducted a public sale for that issue under sections 3
and 4 of this chapter.
[Pre-2007 Higher Education Recodification Citation:
4-1-5-1(c) part.]

Legislative History

As added by P.L.2-2007, SEC.273.