Indiana Code 5-1-12-2. Premiums on bid prices to constitute part of fund to retire bond and pay interest thereon
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Indiana Code 5-1-12-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Sec. 2. Whenever any bonds are sold by any municipal corporation and when the successful bidder agrees to pay and does pay any premium as a part of the bid price of such bonds, any and all premiums so received shall be paid into and shall constitute a part of the fund which is created to retire such bonds and to pay the interest thereon.
[Pre-Local Government Recodification Citation: 19-8-8-1.]
As added by Acts 1980, P.L.8, SEC.21.