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5-1-11-6. Other statutory authorization to issue and exchange bonds for refunding or redeeming outstanding bonds

IN Code § 5-1-11-6 (2019) (N/A)
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Sec. 6. (a) In cases where other statutes authorize the issuance and exchange of new bonds for the purpose of refunding or redeeming outstanding bonds for the payment of which no funds are available, it shall be the duty of the officers charged with issuance and exchange of the new bonds to cause the bonds to be offered:

(1) at a public sale as provided in this chapter; or

(2) alternatively, at a negotiated sale after June 30, 2018, and before July 1, 2021, in the case of:

(A) a consolidated city;

(B) a second class city; or

(C) a school corporation located in a city described in clause (A) or (B).

(b) In cases where it is necessary to provide for the refunding of bonds or interest coupons maturing at various times over a period not exceeding six (6) months, the bodies and officials charged with the duty of issuing and selling the refunding bonds may, for the purpose of reducing the cost of issuance of the bonds, issue and sell one (1) issue of bonds in an amount sufficient to provide for the refunding of all of the bonds and interest coupons required to be refunded during the six (6) month period.

[Pre-Local Government Recodification Citation: 19-8-5-6 part.]

As added by Acts 1980, P.L.8, SEC.19. Amended by P.L.125-2018, SEC.3.

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