Indiana Statutes
§ 5-1-5-5 — Principal amount; reserves to secure bonds
Indiana § 5-1-5-5
JurisdictionIndiana
Title 5STATE AND LOCAL ADMINISTRATION
Art. 1BONDS AND OTHER OBLIGATIONS
Ch. 5Refunding Bonds Generally
This text of Indiana § 5-1-5-5 (Principal amount; reserves to secure bonds) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 5-1-5-5 (2026).
Text
Refunding bonds may be issued in a principal
amount in excess of the principal amount of the bonds to be refunded.
The principal amount of the refunding bonds may be less than or the
same as the principal amount of the bonds being refunded so long as
provision is duly and sufficiently made for the retirement or redemption
of such bonds to be refunded. Any reserves held to secure the bonds to
be refunded may be applied at the time the bonds to be refunded are
paid to the redemption or retirement of such bonds, or if other available
funds are sufficient and are used to retire and redeem such bonds, such
reserves may be pledged as security for the refunding bonds.
Formerly: Acts 1973, P.L.28, SEC.1.
Free access — add to your briefcase to read the full text and ask questions with AI
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" definedCite This Page — Counsel Stack
Bluebook (online)
Indiana § 5-1-5-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/5-1-5-5.