Indiana § 21-32-3-3 - Sale of bonds; conditions

§ 21-32-3-3. Sale of bonds; conditions

Sec. 3. (a) A state educational institution that determines to sell bonds at public sale shall give notice under subsection (b) or (c).

(b) A state educational institution that gives notice under this subsection shall:

(1) publish the notice once each week for two (2) weeks in:

(A) an English language newspaper of general circulation published in the county in which the principal office of the state university or college is located; and

(B) an English language newspaper of general circulation published in the state capital;

(2) publish the last of the publications under subdivision (1) at least seven (7) days before the date of sale; and

(3) include in the notice the following with respect to the bonds:

(A) The amount to be offered.

(B) The denominations.

(C) The dates of maturity.

(D) The maximum rate or rates of interest or the maximum net interest cost.

(E) The date, time, and place of sale.

(F) The minimum price to be paid for the bonds.

(c) A state educational institution that gives notice under this section shall:

(1) publish the notice once each week for two (2) weeks in:

(A) an English language newspaper of general circulation published in the county in which the principal office of the state university or college is located; and

(B) an English language newspaper of general circulation published in the state capital; and

(2) include in the notice:

(A) a statement that any person interested in submitting a bid for the bonds may furnish in writing to the treasurer of the state educational institution at the address set forth in the notice the person's:

(i) name, address, and telephone number; and

(ii) telex number, if any; and

(B) the following with respect to the bonds:

(i) The amount to be offered.

(ii) The denominations.

(iii) The dates of maturity.

(iv) The maximum rate or rates of interest or the maximum net interest cost.

(v) The place of sale.

(vi) The time within which the information referred to in clause (A) must be furnished. The time within which the information referred to in clause (A) must be furnished must be at least seven (7) days after the last publication of the notice of intent to sell.

(vii) The minimum price to be paid.

[Pre-2007 Higher Education Recodification Citation: 4-1-5-1(b) part.]

As added by P.L.2-2007, SEC.273.