Indiana Code 36-12-10-12. General obligation bonds
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Terms Used In Indiana Code 36-12-10-12
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Sec. 12. A municipal corporation may issue the corporation’s general obligation bonds to procure funds to pay the cost of acquisition of real property. The bonds must be authorized, issued, and sold in accordance with IC 6-1.1-20.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-14-10-12.]
As added by P.L.1-2005, SEC.49. Amended by P.L.42-2018, SEC.57.