diff --git a/.changes/unreleased/Fixes-20240514-193201.yaml b/.changes/unreleased/Fixes-20240514-193201.yaml
new file mode 100644
index 00000000..95ab2467
--- /dev/null
+++ b/.changes/unreleased/Fixes-20240514-193201.yaml
@@ -0,0 +1,6 @@
+kind: Fixes
+body: Fix the semicolon semantics for indexes while respecting other bug fix
+time: 2024-05-14T19:32:01.149383-07:00
+custom:
+  Author: versusfacit
+  Issue: "85"
diff --git a/dbt/include/postgres/macros/relations/materialized_view/alter.sql b/dbt/include/postgres/macros/relations/materialized_view/alter.sql
index ee53c113..429b7e53 100644
--- a/dbt/include/postgres/macros/relations/materialized_view/alter.sql
+++ b/dbt/include/postgres/macros/relations/materialized_view/alter.sql
@@ -30,13 +30,14 @@
 
         {%- if _index_change.action == "drop" -%}
 
-            {{ postgres__get_drop_index_sql(relation, _index.name) }};
+            {{ postgres__get_drop_index_sql(relation, _index.name) }}
 
         {%- elif _index_change.action == "create" -%}
 
             {{ postgres__get_create_index_sql(relation, _index.as_node_config) }}
 
         {%- endif -%}
+	{{ ';' if not loop.last else "" }}
 
     {%- endfor -%}
 
diff --git a/dbt/include/postgres/macros/relations/materialized_view/create.sql b/dbt/include/postgres/macros/relations/materialized_view/create.sql
index 17e5cb06..89c18234 100644
--- a/dbt/include/postgres/macros/relations/materialized_view/create.sql
+++ b/dbt/include/postgres/macros/relations/materialized_view/create.sql
@@ -2,7 +2,7 @@
     create materialized view if not exists {{ relation }} as {{ sql }};
 
     {% for _index_dict in config.get('indexes', []) -%}
-        {{- get_create_index_sql(relation, _index_dict) -}}
+        {{- get_create_index_sql(relation, _index_dict) -}}{{ ';' if not loop.last else "" }}
     {%- endfor -%}
 
 {% endmacro %}
diff --git a/tests/functional/test_multiple_indexes.py b/tests/functional/test_multiple_indexes.py
new file mode 100644
index 00000000..1d30a6d4
--- /dev/null
+++ b/tests/functional/test_multiple_indexes.py
@@ -0,0 +1,27 @@
+import pytest
+
+from tests.functional.utils import run_dbt
+
+
+REF_MULTIPLE_INDEX_MODEL = """
+{{
+    config(
+        materialized="materialized_view",
+        indexes=[
+            {"columns": ["foo"], "type": "btree"},
+            {"columns": ["bar"], "type": "btree"},
+        ],
+    )
+}}
+
+SELECT 1 AS foo, 2 AS bar
+"""
+
+
+class TestUnrestrictedPackageAccess:
+    @pytest.fixture(scope="class")
+    def models(self):
+        return {"index_test.sql": REF_MULTIPLE_INDEX_MODEL}
+
+    def test_unrestricted_protected_ref(self, project):
+        run_dbt()