Section 15-14-8-2 - Bonds; tax exemption; duration; sale price(a) Bonds issued under section 1 of this chapter: (1) are free from state tax; and(2) may not be issued for a period longer than the life of the charter of the society or fair.(b) The bonds may be sold at a price less than the par value if the action is endorsed by a full meeting of the board of directors of the society or fair.Pre-2008 Recodification Citation: 15-1-7-2.
As added by P.L. 2-2008, SEC.5.