reglab/housing_qa huggingface dataset:
IN Code § 5-1-11-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11. Procedures for Selling Bonds|5-1-11-2. Publication of Notice of Sale; Publication of Notice of Intent to Sell

Sec. 2. (a) Notice of sale of bonds sold at public sale under section 1 of this chapter shall be published in accordance with the provisions of this chapter and either IC 5-3-1 or subsection (b).(b) If a political subdivision or body referred to in section 1 of this chapter determines to sell bonds under this subsection, notice of intent to sell such bonds shall be published once each week for two (2) weeks in accordance with IC 5-3-1-4 and in a newspaper of general circulation published in the state capital. The notice must state that any person interested in submitting a bid for the bonds may furnish in writing to the official of the political subdivision or body responsible for their sale, at the address set forth in the notice, the person's name, address, and telephone number. The person may also furnish a telex number. The notice of intent to sell bonds must state:(1) the amount of the bonds to be offered;(2) the denominations;(3) the dates of maturity;(4) the maximum rate or rates of interest;(5) the place of sale; and(6) the time within which the name, address, and telephone number must be furnished, which must not be less than seven (7) days after the last publication of the notice of intent to sell.The official of the political subdivision or body responsible for the bond sale shall notify each person so registered of the date and time bids will be received not less than twenty-four (24) hours before the date and time of sale. The notification shall be made by telephone at the number furnished by the person, and also by telex if the person furnishes a telex number. Bids may not be received more than ninety (90) days after the first publication of the notice of intent to sell.(c) This chapter does not prevent the sale of bonds under the provisions of any statute inconsistent with this chapter so long as the procedures required for the sale in that statute are complied with, but if notice of that sale must be published, the notice shall be published in accordance with IC 5-3-1.[Pre-Local Government Recodification Citation: 19-8-5-2 part.]As added by Acts 1980, P.L.8, SEC.19. Amended by Acts 1981, P.L.45, SEC.4; P.L.44-1983, SEC.4; P.L.23-1984, SEC.4; P.L.125-2018, SEC.2.
IN Code § 5-1-11-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11. Procedures for Selling Bonds|5-1-11-3. Maximum Interest Rate to Be Fixed; Notice of Intent to Sell; Bidding Awards; Continuation of Sale; Price of Bonds; Action to Contest Validity

Sec. 3. (a) In authorizing and advertising such bonds for sale only a maximum interest rate shall be fixed, not exceeding the maximum rate provided for in the governing statute or bond ordinance or resolution of the issuing political subdivision or body. Bidders for such bonds shall be required to bid on the interest rate or rates which the bonds shall bear.(b) The notice of intent to sell the bonds required under section 2 of this chapter must:(1) specify the principal amount of bonds maturing on each maturity date or mandatory sinking fund redemption date; or(2) state that the principal maturity schedule or mandatory sinking fund redemption schedule will be provided at least twenty-four (24) hours before the scheduled time of sale upon request by bidders.(c) The bonds shall be awarded to the bidder offering the lowest interest cost to be determined by computing the total interest on all bonds from the date thereof to the date of maturity and deducting therefrom the premium bid, if any, or adding thereto the amount of any discount, if any. If no acceptable bid is received at the time fixed for sale of the bonds, then the sale may be continued from day to day for a period not to exceed thirty (30) days without readvertising. During the continuation of the sale, no bid shall be accepted which offers an interest cost which is equal to or higher than the best bid received at the time fixed for the sale in the bond sale notice. The acceptability of a bid is within the sole discretion of the political subdivision or body referred to in section 1(a) that is issuing the bonds.(d) Any bonds sold at public sale under this chapter may be sold, notwithstanding the provisions of any other law, at a price or prices determined by the officer or body authorized by law to issue or sell bonds, but not for less than ninety-seven percent (97%) of their par value.(e) An action to contest the validity of any bonds sold under this chapter may not be brought after the fifteenth day following the first publication of notice of the sale of the bonds. An action to contest the validity of any bond sale under this chapter may not be brought after the fifth day following the bond sale.[Pre-Local Government Recodification Citation: 19-8-5-3 part.]As added by Acts 1980, P.L.8, SEC.19. Amended by P.L.44-1983, SEC.5; P.L.23-1984, SEC.5; P.L.35-1990, SEC.1.
IN Code § 5-1-11-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11. Procedures for Selling Bonds|5-1-11-4. Prohibitions; Advantage in Bidding; Payment Before Delivery; Technical Services

Sec. 4. (a) It shall be unlawful for any officer or body authorized by law to issue or sell bonds to enter into a contract or agreement prior to the award of such bonds with any person, limited liability company, firm, or corporation, directly or indirectly interested in bidding on or purchasing such bonds, for the furnishing of legal, engineering, or other technical services, or for the furnishing of printed bond forms or any other contract or agreement which will give to any person, firm, limited liability company, or corporation an advantage in bidding on or purchasing such bonds or controlling the sale thereof. Any funds expended on account of any such contract or agreement shall be chargeable to the officer or officers authorizing or making such expenditure.(b) It shall be unlawful for any officer or body authorized to issue or sell bonds to require the successful bidder therefor to pay for such bonds prior to the time that such bonds are delivered, or prior to the time that the successful bidder shall have had reasonable opportunity to examine such bonds and the proceedings had relative to the authorization, issuance and sale of the same. Nothing in this chapter, however, shall prevent any county, township, city, town, school corporation or special taxing district from employing or contracting for legal, engineering or other technical services, prior to the sale of any such bonds, provided that such services are not to be supplied by or through a person, firm, limited liability company, or corporation directly or indirectly interested in bidding on or purchasing such bonds.[Pre-Local Government Recodification Citation: 19-8-5-4 part.]As added by Acts 1980, P.L.8, SEC.19. Amended by P.L.8-1993, SEC.47.
IN Code § 5-1-11-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11. Procedures for Selling Bonds|5-1-11-5. Transcript of Proceedings Relative to Issuance of Bonds to Be Furnished to Purchaser

Sec. 5. Whenever any bonds are sold, there shall be furnished to the purchaser thereof a transcript of the proceedings had and actions taken relative to the authorization, issuance, and sale of such bonds, certified by the person or persons charged with recording the minutes or keeping the records of the body or bodies having to do with the authorization and issuance of such bonds. In cases where such transcripts relate to the issuance of general obligation bonds, or bonds payable in anticipation of the collection of special taxes, such transcripts shall also have attached thereto the certificate of the proper officers showing the assessed valuation of taxable property in and outstanding indebtedness of the issuing unit and other pertinent details bearing on the validity of said bonds. Such transcripts and the certificates attached thereto shall import verity and shall be accepted in evidence in any legal proceedings relating to or affecting said bonds.[Pre-Local Government Recodification Citation: 19-8-5-5.]As added by Acts 1980, P.L.8, SEC.19.
IN Code § 5-1-11-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11. Procedures for Selling Bonds|5-1-11-6. Other Statutory Authorization to Issue and Exchange Bonds for Refunding or Redeeming Outstanding Bonds

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 after June 30, 2018, and before July 1, 2023, in the case of:(A) counties;(B) townships;(C) cities;(D) towns; and(E) 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.
IN Code § 5-1-11-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11. Procedures for Selling Bonds|5-1-11-7. Restrictions on Powers

Sec. 7. Nothing in this chapter contained shall be so construed as to enlarge the powers of counties, townships, cities, towns, school corporations, and special taxing districts, or agencies or instrumentalities thereof to issue bonds.[Pre-Local Government Recodification Citation: 19-8-5-7.]As added by Acts 1980, P.L.8, SEC.19.
IN Code § 5-1-11.5-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11.5. Additional Requirements for the Issuance of Bonds|5-1-11.5-1. "Adm"

Sec. 1. As used in this chapter, "ADM" has the meaning set forth in IC 20-18-2-2.As added by P.L.244-2017, SEC.2.
IN Code § 5-1-11.5-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11.5. Additional Requirements for the Issuance of Bonds|5-1-11.5-2. "Bonds"

Sec. 2. As used in this chapter, "bonds" means any bonds, notes, or other evidences of indebtedness, whether payable from property taxes, other taxes, revenues, fees, or any other source. However, the term does not include notes, warrants, or other evidences of indebtedness that have a maturity of not more than five (5) years and that are made in anticipation of and to be paid from revenues of the school corporation, county, or municipality.As added by P.L.244-2017, SEC.2.
IN Code § 5-1-11.5-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11.5. Additional Requirements for the Issuance of Bonds|5-1-11.5-3. Application to Certain School Corporations

Sec. 3. This section applies only to a school corporation that has an ADM of more than fifteen thousand (15,000) for the school corporation's most recent fall count. Notwithstanding any other law, a school corporation subject to this section may not issue bonds after August 15, 2020, unless the school corporation has for its preceding budget year prepared an annual financial report using the modified accrual basis of accounting in accordance with generally accepted accounting principles. However, upon request of a school corporation to the state examiner, the state examiner may waive the requirement under this section if the state examiner determines that a waiver is in the best interest of the school corporation.As added by P.L.244-2017, SEC.2.
IN Code § 5-1-11.5-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 11.5. Additional Requirements for the Issuance of Bonds|5-1-11.5-4. Application to Certain Counties and Municipalities

Sec. 4. This section applies only to the following:(1) A county that has a population of more than one hundred thousand (100,000).(2) A municipality that has a population of more than seventy-five thousand (75,000).Notwithstanding any other law, a county or municipality subject to this section may not issue bonds after June 30, 2020, unless the county or municipality has for its preceding budget year prepared an annual financial report using the modified accrual basis of accounting in accordance with generally accepted accounting principles. However, upon request of a county or municipality to the state examiner, the state examiner may waive the requirement under this section if the state examiner determines that a waiver is in the best interest of the county or municipality.As added by P.L.244-2017, SEC.2.
IN Code § 5-1-12-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 12. Payment of Bond Premiums|5-1-12-1. "Municipal Corporation" Defined

Sec. 1. The term "municipal corporation" means a county, township, city, town, or school corporation.[Pre-Local Government Recodification Citation: 19-8-8-2.]As added by Acts 1980, P.L.8, SEC.21.
IN Code § 5-1-12-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 12. Payment of Bond Premiums|5-1-12-2. Premiums on Bid Prices to Constitute Part of Fund to Retire Bond and Pay Interest Thereon

Sec. 2. Whenever any bonds are sold by any municipal corporation and when the successful bidder agrees to pay and does pay any premium as a part of the bid price of such bonds, any and all premiums so received shall be paid into and shall constitute a part of the fund which is created to retire such bonds and to pay the interest thereon.[Pre-Local Government Recodification Citation: 19-8-8-1.]As added by Acts 1980, P.L.8, SEC.21.
IN Code § 5-1-13-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 13. Disposition of Surplus Bond Proceeds|5-1-13-1. Definitions

Sec. 1. The definitions in this section apply throughout this chapter:(1) "Bonds" has the same definition that the term is given in IC 5-1-11-1.(2) "Local issuing body" has the meaning set forth in IC 5-1-5-1.(3) "Political subdivision" has the same definition that the term is given in IC 36-1-2-13.(4) "Special benefit taxes" has the meaning set forth in IC 5-1-5-1.(5) "Tax increment revenues" has the meaning set forth in IC 5-1-5-1.[Pre-Local Government Recodification Citation: 19-8-6-2.]As added by Acts 1980, P.L.8, SEC.23. Amended by P.L.24-1984, SEC.1; P.L.146-2008, SEC.26.
IN Code § 5-1-13-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 13. Disposition of Surplus Bond Proceeds|5-1-13-2. Use of Surplus Proceeds

Sec. 2. (a) Notwithstanding any other law, whenever:(1) bonds are issued by any local issuing body in the state of Indiana for any lawful purpose or project;(2) the purpose or project for which the bonds were issued has been accomplished or abandoned; and(3) a surplus remains from the proceeds of the bonds or investment earnings derived from the proceeds of those bonds;the local issuing body may use the surplus only in the manner prescribed by subsection (b), (c), or (d).(b) The legislative body or other governing body of any such local issuing body may by an order, ordinance, or resolution entered of record direct the disbursing officer of such local issuing body to transfer the surplus bond proceeds or investment earnings to the fund of the local issuing body pledged to the payment of principal and interest on those bonds, and upon such order, ordinance, or resolution being made, the disbursing officer shall make such transfer. Thereafter such funds transferred shall be used for the payment of the bonds to which the surplus bond proceeds or investment earnings are attributable or interest due for such bonds.(c) Surplus bond proceeds or investment earnings may be used by a local issuing body for the following purposes:(1) To maintain a debt service reserve fund for the bonds to which the surplus bond proceeds or investment earnings are attributable, at the level required under the terms of the bonds, if the local issuing body adopts an ordinance, resolution, or order authorizing that use of the proceeds or earnings.(2) To pay the principal or interest, or both, on any other bonds of the local issuing body, if the local issuing body adopts an ordinance, a resolution, or an order authorizing the use of the surplus proceeds to pay principal or interest on the bonds.(3) To reduce the rate or amount of ad valorem property taxes, special benefit taxes on property, or tax increment revenues imposed by or allocated to the local issuing body.(d) This section applies to bonds that are not payable from ad valorem property taxes, special benefit taxes on property, or tax increment revenues derived from property taxes. Surplus bond proceeds or investment earnings may be used by a local issuing body for the same purpose or type of project for which the bonds were originally issued, if:(1) the fiscal officer of the local issuing body certifies before or at the time of that use that the surplus was not anticipated at the time of issuance of the bonds; and(2) the board or legislative body responsible for issuing the bonds takes action approving the use of surplus bond proceeds or investment earnings for the same purpose or type of project for which the bonds were originally issued.[Pre-Local Government Recodification Citation: 19-8-6-1.]As added by Acts 1980, P.L.8, SEC.23. Amended by P.L.24-1984, SEC.2; P.L.37-1988, SEC.1; P.L.2-1989, SEC.3; P.L.146-2008, SEC.27.
IN Code § 5-1-13-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 13. Disposition of Surplus Bond Proceeds|5-1-13-3. Income From Investment of Proceeds of Sale of Bonds; Application

Sec. 3. Notwithstanding any other law, income from the investment of proceeds of the sale of bonds issued by any political subdivision that are payable from property taxes shall be applied to the improvement or the public purpose for which the bonds were issued or shall be used to pay interest on the bonds and in no event may such income be used for any other purpose except as provided in section 2 of this chapter.As added by P.L.24-1984, SEC.3.
IN Code § 5-1-14-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 14. Miscellaneous Provisions|5-1-14-1. Bonds, Notes, or Warrants Not Subject to Maximum Interest Rate Limitations

Sec. 1. (a) Any bonds, notes, or warrants, whether payable from property taxes, revenues, or any other source, are not subject to the maximum interest rate limitations contained in any law enacted before December 31, 1982, if they are issued by or in the name of any entity named in IC 5-1-1-1.(b) After July 1, 1979, any bond, coupon, certificate of indebtedness, or installment payment payable by a city, town, or property holder for public improvements under the Barrett Law is not subject to any maximum interest rate limitation. This subsection does not apply to interest rates or penalties on delinquencies provided under the Barrett Law.(c) This section does not limit an interest rate review conducted by the department of local government finance under IC 6-1.1-20-7.[Pre-Local Government Recodification Citation: 6-1.1-20-8.]As added by Acts 1980, P.L.8, SEC.25. Amended by P.L.44-1983, SEC.6; P.L.90-2002, SEC.12.
IN Code § 5-1-14-1.2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 14. Miscellaneous Provisions|5-1-14-1.2. Issuer Defined

Sec. 1.2. As used in this chapter, "issuer" means any issuer of obligations that is referred to in IC 5-1-1-1(b).As added by P.L.37-1988, SEC.2.
IN Code § 5-1-14-1.3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 14. Miscellaneous Provisions|5-1-14-1.3. Definitions

Sec. 1.3. The following definitions apply throughout this chapter:(1) "Local issuing body" has the meaning set forth in IC 5-1-5-1.(2) "Special benefit taxes" has the meaning set forth in IC 5-1-5-1.(3) "Swap agreement" has the meaning set forth in IC 8-9.5-9-4, except that the term includes a swap agreement entered into by an issuing body (as defined in section 17.2(b) of this chapter) only if any part of the payments owed by the issuing body under the agreement, including any termination or settlement payments, is payable out of:(A) tax revenues; or(B) a special assessment.(4) "Tax increment revenues" has the meaning set forth in IC 5-1-5-1.As added by P.L.146-2008, SEC.28. Amended by P.L.218-2011, SEC.1.
IN Code § 5-1-14-1.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 14. Miscellaneous Provisions|5-1-14-1.5. Obligations Defined

Sec. 1.5. As used in this chapter, "obligations" has the meaning set forth in IC 5-1-3-1(2).As added by P.L.37-1988, SEC.3. Amended by P.L.88-2021, SEC.3.
IN Code § 5-1-14-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1. Bonds and Other Obligations|Chapter 14. Miscellaneous Provisions|5-1-14-2. Provisions for Payment of Bonds, Notes, or Warrants Before Maturity Date

Sec. 2. Any bonds, notes, or warrants, whether payable from property taxes, revenues, or any other source, issued by an entity enumerated in section 1(a) of this chapter may provide that the bonds, notes, or warrants may be payable before maturity from available funds and with such premiums as are set forth in the bonds, notes, or warrants. In addition, the bonds, notes, or warrants may provide that they may be registered as to principal or interest, or both, at the option of the holder, and upon such terms and conditions as are set forth in the bonds, notes, or warrants.[Pre-Local Government Recodification Citation: 6-1.1-20-8.5.]As added by Acts 1980, P.L.8, SEC.25.