Indiana Code 8-25-5-4. Ordinance authorizing bonds; method of sale; price
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Sec. 4. (a) The bonds must be authorized by ordinance of the fiscal body. The ordinance must provide the following with respect to 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.
(1) The original date of the bonds.
Terms Used In Indiana Code 8-25-5-4
- bonds: has the meaning set forth in IC 36-1-2-2. See Indiana Code 8-25-5-2
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
(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.
As added by P.L.153-2014, SEC.17.