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.
Structure Indiana Code
Article 32. State Educational Institutions: Bonds and Borrowing
21-32-3-1. Power to Issue Bonds
21-32-3-2. Sale of Bonds; Value
21-32-3-3. Sale of Bonds; Conditions
21-32-3-4. Notice of Sale of Bond
21-32-3-5. Determination of Interest Cost
21-32-3-6. Acceptability of Bids
21-32-3-7. Restrictions on the Acceptability of Bids