2023 Indiana Code
Title 5. State and Local Administration
Article 1. Bonds and Other Obligations
Chapter 11. Procedures for Selling Bonds
5-1-11-1. Public Sale; Negotiated Sale; "Bonds"; Sale to Federal Government

Sec. 1. (a) Except as otherwise provided in this chapter or in the statute authorizing their issuance, all bonds issued by or in the name of counties, townships, cities, towns, school corporations, and special taxing districts, agencies or instrumentalities thereof, or by entities required to sell bonds pursuant to this chapter, whether the bonds are general obligations or issued in anticipation of the collection of special taxes or are payable out of revenues, may be sold:

(1) at a public sale; or

(2) alternatively, at a negotiated sale after June 30, 2018, and before July 1, 2025, in the case of:

(A) counties;

(B) townships;

(C) cities;

(D) towns;

(E) taxing districts;

(F) special taxing districts; and

(G) school corporations.

(b) The word "bonds" as used in this chapter means any obligations issued by or in the name of any of the political subdivisions or bodies referred to in subsection (a), except obligations payable in the year in which they are issued, obligations issued in anticipation of the collection of delinquent taxes, and obligations issued in anticipation of the collection of frozen bank deposits.

(c) Notwithstanding any of the provisions of subsection (a) or any of the provisions of section 2 of this chapter, any bonds may be sold to the federal government or any agency thereof, at private sale and without a public offering.

[Pre-Local Government Recodification Citation: 19-8-5-1.]

As added by Acts 1980, P.L.8, SEC.19. Amended by P.L.44-1983, SEC.3; P.L.23-1984, SEC.3; P.L.125-2018, SEC.1; P.L.38-2021, SEC.1; P.L.236-2023, SEC.5.