IC 8-1.5-2-23: General obligation bonds; terms; sale

Sec. 23. If general obligation bonds are issued, they:

(1) may be issued in any denomination;

(2) are payable at a time not to exceed forty (40) years from issuance;

(3) may bear interest at any rate payable semiannually; and

(4) shall be sold for not less than par value and accrued interest;

as provided by ordinance. The bonds shall be sold in accordance with IC 5-1-11.