{"data":{"id":"us-in/ic-20-27-4-6","jurisdiction":"us-in","citation":"IC 20-27-4-6","heading":"Manner of purchase","body":"Sec. 6. (a) The purchase of a school bus shall be made in the same manner as provided by law for the purchase of school supplies by a school corporation.\n(b) If a school bus is purchased under a security agreement, the required notice to bidders or solicitation of bids must set:\n(1) the length of time the security agreement shall run; and\n(2) the terms of the security agreement, including the security agreement price and interest rate.\n(c) The low bid for a security agreement shall be determined by adding to each bidding price the net interest cost and then comparing the totals of the price and interest on each bid. A separate statement of each price shall be made to enable the governing body to determine the advisability of purchasing a school bus under a security agreement.","path":["TITLE 20. EDUCATION","ARTICLE 27. SCHOOL TRANSPORTATION","Chapter 4. Purchase of School Buses"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-27-4-6","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"71b1d6e0c7ffe1970341d05d7685cb236441fac448e941ba9e3b40ab54aac0cb","source_id":"us-in","stale":false,"prev":"us-in/ic-20-27-4-5","next":"us-in/ic-20-27-4-7"},"notice":"GroundRules: Original legal text. Not legal advice."}