Section 20-48-1-4 - Conditions of sale; par value; public sale; negotiated sale; interest rate; approval required for certain bonds(a) Bonds issued by a school corporation shall be sold:(2) alternatively, at a negotiated sale after June 30, 2018, and before July 1, 2025.(b) If the bonds are sold at a public sale, the bonds must be sold at: (1) not less than par value;(2) a public sale as provided by IC 5-1-11; and(3) any rate or rates of interest determined by the bidding.(c) This subsection does not apply to bonds for which a school corporation:(1) after June 30, 2008, makes a preliminary determination as described in IC 6-1.1-20-3.1 or IC 6-1.1-20-3.5 or a decision as described in IC 6-1.1-20-5; or(2) in the case of bonds not subject to IC 6-1.1-20-3.1, IC 6-1.1-20-3.5, or IC 6-1.1-20-5, adopts a resolution or ordinance authorizing the bonds after June 30, 2008. If the net interest cost exceeds eight percent (8%) per year, the bonds must not be issued until the issuance is approved by the department of local government finance.
Pre-2006 Recodification Citation: 21-2-21-3.
Amended by P.L. 236-2023,SEC. 157, eff. 7/1/2023.Amended by P.L. 38-2021,SEC. 69, eff. 7/1/2021.Amended by P.L. 125-2018,SEC. 5, eff. 7/1/2018.As added by P.L. 2-2006, SEC.171. Amended by P.L. 146-2008, SEC.522.