1. (a) The bonds of each issue:

   1. (1) must:

      1. (A) be dated;
      2. (B) bear interest at the rate or rates; and

      3. (C) mature at the time or times not exceeding fifty (50) years;

         as determined by the commission; and

   2. (2) may be made redeemable before maturity, at the option of the commission, at the price or prices and under the terms and conditions fixed by the commission in the authorizing resolution.

2. (b) The commission shall determine the following:

   1. (1) The form of the bonds, including any interest coupons to be attached.
   2. (2) The denomination or denominations of the bonds.
   3. (3) The place or places of payment of principal and interest, which may be at any bank or trust company within or outside Indiana.

3. (c) The bonds shall be signed in the name of the commission by:

   1. (1) the chairman or vice chairman; or
   2. (2) the facsimile signature of the chairman or vice chairman.

4. (d) The official seal of the commission or a facsimile of the seal shall be:

   1. (1) affixed to the bonds; and
   2. (2) attested by the public finance director.
5. (e) Any coupons attached to the bonds must bear the facsimile signature of the chairman of the commission.

6. (f) If an officer whose signature or a facsimile of whose signature appears on a bond or coupon ceases to be the officer before the delivery of the bonds, the signature or facsimile is still valid and sufficient for all purposes the same as if the officer had remained in office until delivery.

   [Pre-1995 Recodification Citation: 14-3-12-10 part.]

As added by P.L.1-1995, SEC.7. Amended by P.L.162-2007, SEC.35.