Indiana Code 6-9-35-16. Payment of obligations; covenant with holders
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Sec. 16. With respect to obligations of the capital improvement board described in section 12(a) of this chapter and bonds, leases, or other obligations for which a pledge has been made under section 14 of this chapter, the general assembly covenants with the holders of these obligations that:
(2) this chapter will not be amended in any manner that will change the purpose for which revenues from the tax imposed under this chapter may be used;
(1) this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of the tax imposed under this chapter; and
Terms Used In Indiana Code 6-9-35-16
- capital improvement board: means the capital improvement board of managers created by IC 36-10-9-3. See Indiana Code 6-9-35-4
as long as the payment of any of those obligations is outstanding.
As added by P.L.214-2005, SEC.44.