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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 5. (a) The bonds or notes must indicate on their face:
(1) the maturity date or dates, as determined under subsection (b);
(2) the interest rate or rates (whether fixed, variable, or a combination of fixed or variable) or the manner in which the interest rate or rates will be determined if variable or adjustable rates are used;
(3) registration privileges and place of payment, including provisions for book entry obligations as set forth in IC 5-1-15;
(4) the conditions and terms under which the bonds or notes may be redeemed or prepaid before maturity; and
(5) their source of payment as set forth in section 10 of this chapter.
(b) The weighted average life of the bonds or notes may not exceed the sum of:
(1) the weighted average useful life of the project or projects to be financed from the proceeds of the bonds or notes; plus
(2) the period of construction of the project or projects.
Cite this article: FindLaw.com - Indiana Code Title 8. Utilities and Transportation § 8-14.5-6-5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-8-utilities-and-transportation/in-code-sect-8-14-5-6-5/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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