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Indiana Code Title 21. Higher Education § 21-32-3-6

Current as of January 01, 2024 | Updated by FindLaw Staff

Sec. 6. If no acceptable bid is received at the time fixed for sale of the bonds at a public sale, the state educational institution:

(1) may continue the sale from day to day for a period not to exceed thirty (30) days without readvertising; and

(2) may not accept a bid during the continuation of the sale that offers a higher interest cost than the best bid received at the time fixed for the sale under section 3 of this chapter.

The acceptability of a bid is within the sole discretion of the state educational institution issuing the bonds. A state educational institution may not negotiate a sale for an issue of bonds without public bidding under section 1 of this chapter until the thirty (30) day period required by this section has passed for that issue if the state educational institution has conducted a public sale for that issue under sections 3 and 4 of this chapter.

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Cite this article: FindLaw.com - Indiana Code Title 21. Higher Education § 21-32-3-6 - last updated January 01, 2024 | https://codes.findlaw.com/in/title-21-higher-education/in-code-sect-21-32-3-6.html

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