Ind. Code § 5-1-11-6
This is the official text of Ind. Code § 5-1-11-6, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Other statutory authorization to issue and exchange bonds for refunding or redeeming outstanding bonds
Official statutory text
Sec. 6. (a) In cases where other statutes authorize the issuance and exchange of new bonds for the purpose of refunding or redeeming outstanding bonds for the payment of which no funds are available, it shall be the duty of the officers charged with issuance and exchange of the new bonds to cause the bonds to be offered:
(1) at a public sale as provided in this chapter; or
(2) alternatively, at a negotiated sale, in the case of:
(A) counties;
(B) townships;
(C) cities;
(D) towns;
(E) taxing districts;
(F) special taxing districts; and
(G) school corporations.
(b) In cases where it is necessary to provide for the refunding of bonds or interest coupons maturing at various times over a period not exceeding six (6) months, the bodies and officials charged with the duty of issuing and selling the refunding bonds may, for the purpose of reducing the cost of issuance of the bonds, issue and sell one (1) issue of bonds in an amount sufficient to provide for the refunding of all of the bonds and interest coupons required to be refunded during the six (6) month period.
[Pre-Local Government Recodification Citation: 19-8-5-6 part.]
As added by Acts 1980, P.L.8, SEC.19. Amended by P.L.125-2018, SEC.3; P.L.38-2021, SEC.2; P.L.236-2023, SEC.6; P.L.230-2025, SEC.4.
(1) at a public sale as provided in this chapter; or
(2) alternatively, at a negotiated sale, in the case of:
(A) counties;
(B) townships;
(C) cities;
(D) towns;
(E) taxing districts;
(F) special taxing districts; and
(G) school corporations.
(b) In cases where it is necessary to provide for the refunding of bonds or interest coupons maturing at various times over a period not exceeding six (6) months, the bodies and officials charged with the duty of issuing and selling the refunding bonds may, for the purpose of reducing the cost of issuance of the bonds, issue and sell one (1) issue of bonds in an amount sufficient to provide for the refunding of all of the bonds and interest coupons required to be refunded during the six (6) month period.
[Pre-Local Government Recodification Citation: 19-8-5-6 part.]
As added by Acts 1980, P.L.8, SEC.19. Amended by P.L.125-2018, SEC.3; P.L.38-2021, SEC.2; P.L.236-2023, SEC.6; P.L.230-2025, SEC.4.
Status: in_force · Read it on the official government site
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