§ 8-25-5-4 — Ordinance authorizing bonds; method of sale; price

Indiana § 8-25-5-4

• Jurisdiction: Indiana
• Art. 25: CENTRAL INDIANA PUBLIC
• Ch. 5: Bonding for Central Indiana Public Transportation

Text

(a) The bonds must be authorized by ordinance
of the fiscal body. The ordinance must provide the following with
respect to the bonds:
(1) The original date of the bonds.
(2) The time or times that the bonds mature. However, a bond
may not mature more than twenty (20) years after the date it is
issued.
(3) The maximum interest rate or rates, including variations of the
rates.
(4) The denominations.
(5) The form, either coupon or registered.
(6) The registration privileges.
(7) The medium of payment and the place or places of payment.
(8) The terms of redemption, including redemption before
maturity.
(b) Bonds issued under this chapter must be sold under IC 5-1-11,
and at a price or prices determined by the county fiscal body in the
ordinance.

Legislative History

As added by P.L.153-2014, SEC.17.