Indiana § 21-32-3-6 - Acceptability of bids
Full text of Indiana Indiana Code § 21-32-3-6 — Acceptability of bids, with citation guidance and answers to common questions.
§ 21-32-3-6. Acceptability of bids
Sec. 6. If no acceptable bid is received at the time fixed for sale of the bonds at a public sale, the state educational institution:
(1) may continue the sale from day to day for a period not to exceed thirty (30) days without readvertising; and
(2) may not accept a bid during the continuation of the sale that offers a higher interest cost than the best bid received at the time fixed for the sale under section 3 of this chapter.
The acceptability of a bid is within the sole discretion of the state educational institution issuing the bonds. A state educational institution may not negotiate a sale for an issue of bonds without public bidding under section 1 of this chapter until the thirty (30) day period required by this section has passed for that issue if the state educational institution has conducted a public sale for that issue under sections 3 and 4 of this chapter.
[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 § 21-32-3-6
What does Indiana Code § 21-32-3-6 cover?
Section 21-32-3-6 ("Acceptability of bids") 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 § 21-32-3-6?
A common citation format is "Indiana Code § 21-32-3-6" (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 § 21-32-3-6 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.