A state educational institution shall award bonds sold at public sale to the bidder offering the lowest interest cost to be determined by:(1) computing the total interest on the bonds from the date of the sale to the date of maturity; and(2) either:(A) deducting from the total interest the amount of any premium bid; or(B) adding to the total interest the amount of any discount.[Pre-2007 Higher Education Recodification Citation: 4-1-5-1(c) part.]As added by P.L.2-2007, SEC.273.
Indiana Legal Code