§ 5-1-11-1 — Public sale; negotiated sale; "bonds"; sale to federal government

Indiana § 5-1-11-1

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 11: Procedures for Selling Bonds

Text

(a) Except as otherwise provided in this chapter
or in the statute authorizing their issuance, all bonds issued by or in the
name of counties, townships, cities, towns, school corporations, and
special taxing districts, agencies or instrumentalities thereof, or by
entities required to sell bonds pursuant to this chapter, whether the
bonds are general obligations or issued in anticipation of the collection
of special taxes or are payable out of revenues, may be sold:
(1) at a public sale; or
(2) alternatively, at a negotiated sale, in the case of:
(A) counties;
(B) townships;
(C) cities;
(D) towns;
(E) taxing districts;
(F) special taxing districts; and
(G) school corporations.
(b) The word "bonds" as used in this chapter means any obligations
issued by or in the name of any of the political subdivisions or bodies
referred to in subsection (a), except obligations payable in the year in
which they are issued, obligations issued in anticipation of the
collection of delinquent taxes, and obligations issued in anticipation of
the collection of frozen bank deposits.
(c) Notwithstanding any of the provisions of subsection (a) or any
of the provisions of section 2 of this chapter, any bonds may be sold to
the federal government or any agency thereof, at private sale and
without a public offering.
[Pre-Local Government Recodification Citation:
19-8-5-1.]
As added by Acts 1980, P.L.8, SEC.19. Amended by
P.L.44-1983, SEC.3; P.L.23-1984, SEC.3; P.L.125-2018, SEC.1;
P.L.38-2021, SEC.1; P.L.236-2023, SEC.5; P.L.230-2025,
SEC.3.