Ind. Code § 21-32-3-5

Current through P.L. 171-2024

Section 21-32-3-5 - Determination of interest cost

A state educational institution shall award bonds sold at public sale to the bidder offering the lowest interest cost to be determined by:

(1) computing the total interest on the bonds from the date of the sale to the date of maturity; and

(2) either:

(A) deducting from the total interest the amount of any premium bid; or

(B) adding to the total interest the amount of any discount.

IC 21-32-3-5

Pre-2007 Higher Education Recodification Citation: 4-1-5-1(c) part.

As added by P.L. 2-2007, SEC.273.