Indiana § 21-32-3-5 - Determination of interest cost
Full text of Indiana Indiana Code § 21-32-3-5 — Determination of interest cost, with citation guidance and answers to common questions.
§ 21-32-3-5. Determination of interest cost
Sec. 5. A state educational institution shall award bonds sold at public sale to the bidder offering the lowest interest cost to be determined by:
(1) computing the total interest on the bonds from the date of the sale to the date of maturity; and
(2) either:
(A) deducting from the total interest the amount of any premium bid; or
(B) adding to the total interest the amount of any discount.
[Pre-2007 Higher Education Recodification Citation: 4-1-5-1(c) part.]
As added by P.L.2-2007, SEC.273.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-32-3-5
What does Indiana Code § 21-32-3-5 cover?
Section 21-32-3-5 ("Determination of interest cost") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 21-32-3-5?
A common citation format is "Indiana Code § 21-32-3-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 21-32-3-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.