Indiana Code 36-7-23-24. Disclosures on face of bond
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Sec. 24. The bonds must indicate the following on the face of each bond:
(2) The maturity date or dates, not exceeding fifty (50) years from the date of issue.
(1) The denomination of the bond.
Terms Used In Indiana Code 36-7-23-24
- authority: refers to a multiple jurisdiction infrastructure authority established under this chapter. See Indiana Code 36-7-23-1
- 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 interest rate or rates if fixed rates are used, or the manner in which the interest rate will be determined if variable or adjustable rates are used.
(4) The registration privileges.
(5) That the bond does not constitute a debt of the state or a political subdivision within the meaning or application of a constitutional provision or limitation, but that the bond is payable solely as to both principal and interest from all or part of the revenues of the authority, as set forth in the resolution of the authority.
(6) The conditions and terms under which the bonds may be redeemed before maturity.
As added by P.L.346-1989(ss), SEC.7.