Revenue bonds may:

1. (1) bear interest, at a rate or rates not exceeding the maximum determined by the board, that is payable or accretes as determined by the board;
2. (2) mature at a time or times to be determined by ordinance; and

3. (3) be made redeemable before maturity at the option of the district, to be exercised by the board, at not more than the par value and a premium not exceeding five percent (5%) under terms and conditions that are fixed by the ordinance authorizing the issuance of the bonds.

   [Pre-1996 Recodification Citation: 13-3-2-17(a).]

As added by P.L.1-1996, SEC.16. Amended by P.L.53-2004, SEC.2.