Indiana § 36-10-11-21 - Bonds; execution and sale
Full text of Indiana Indiana Code § 36-10-11-21 — Bonds; execution and sale, with citation guidance and answers to common questions.
§ 36-10-11-21. Bonds; execution and sale
Sec. 21. (a) The bonds shall be executed by the president of the board, and the corporate seal of the authority shall be affixed and attested by the secretary of the board. The interest coupons attached to the bonds shall be executed by placing the facsimile signature of the treasurer on them. The bonds shall be sold by the board:
(1) at public sale for not less than the par value; or
(2) alternatively, at a negotiated sale.
Notice of sale shall be published in accordance with IC 5-3-1.
(b) If the bonds are sold at a public sale, the board shall award the bonds to the highest bidder as determined by computing the total interest on the bonds from the date of issue to the dates of maturity and deducting the premium bid, if any. If the bonds are not sold on the date fixed for the sale, the sale may be continued from day to day until a satisfactory bid has been received.
(c) Any premium received from the sale of the bonds shall be used solely for the payment of principal and interest on the bonds.
(d) Before the preparation of definitive bonds, temporary bonds may under like restrictions be issued with or without coupons, exchangeable for definitive bonds upon the issuance of the latter. The total amount of bonds issued by the authority under this section, when added to any loan or loans negotiated under section 22 of this chapter, may not exceed three million dollars ($3,000,000).
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.125-2018, SEC.13; P.L.38-2021, SEC.110; P.L.236-2023, SEC.216; P.L.230-2025, SEC.152.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-10-11-21
What does Indiana Code § 36-10-11-21 cover?
Section 36-10-11-21 ("Bonds; execution and sale") 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 § 36-10-11-21?
A common citation format is "Indiana Code § 36-10-11-21" (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 § 36-10-11-21 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.