If general obligation bonds are issued, they:(1) may be issued in any denomination;(2) are payable at a time not to exceed forty (40) years from issuance;(3) may bear interest at any rate payable semiannually; and(4) shall be sold for not less than par value and accrued interest;as provided by ordinance. The bonds shall be sold in accordance with IC 5-1-11.As added by Acts 1982, P.L.74, SEC.1.
Indiana Legal Code