§ 5-1-11-2 — Publication of notice of sale; publication of notice of intent to sell

Indiana § 5-1-11-2

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

Text

(a) Notice of sale of bonds sold at public sale
under section 1 of this chapter shall be published in accordance with
the provisions of this chapter and either IC 5-3-1 or subsection (b).
(b) If a political subdivision or body referred to in section 1 of this
chapter determines to sell bonds under this subsection, notice of intent
to sell such bonds shall be published once each week for two (2) weeks
in accordance with IC 5-3-1-4 and in a newspaper of general
circulation published in the state capital. The notice must state that any
person interested in submitting a bid for the bonds may furnish in
writing to the official of the political subdivision or body responsible
for their sale, at the address set forth in the notice, the person's name,
address, and telephone number. The person may also furnish a telex
number. The notice of intent to sell bonds must state:
(1) the amount of the bonds to be offered;
(2) the denominations;
(3) the dates of maturity;
(4) the maximum rate or rates of interest;
(5) the place of sale; and
(6) the time within which the name, address, and telephone
number must be furnished, which must not be less than seven (7)
days after the last publication of the notice of intent to sell.
The official of the political subdivision or body responsible for the
bond sale shall notify each person so registered of the date and time
bids will be received not less than twenty-four (24) hours before the
date and time of sale. The notification shall be made by telephone at
the number furnished by the person, and also by telex if the person
furnishes a telex number. Bids may not be received more than ninety
(90) days after the first publication of the notice of intent to sell.
(c) This chapter does not prevent the sale of bonds under the
provisions of any statute inconsistent with this chapter so long as the
procedures required for the sale in that statute are complied with, but
if notice of that sale must be published, the notice shall be published in
accordance with IC 5-3-1.
[Pre-Local Government Recodification Citation: 19-8-5-2
part.]
As added by Acts 1980, P.L.8, SEC.19. Amended by Acts 1981,
P.L.45, SEC.4; P.L.44-1983, SEC.4; P.L.23-1984, SEC.4;
P.L.125-2018, SEC.2.