Premiums on bid prices to constitute part of fund to retire bond and pay interest thereon

Ind. Code § 5-1-12-2
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026

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