Indiana Code 6-9-38-25. Covenant with bond holders
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Terms Used In Indiana Code 6-9-38-25
- bonds: has the meaning set forth in IC 5-1-11-1. See Indiana Code 6-9-38-4
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- obligations: has the meaning set forth in IC 5-1-3-1(2). See Indiana Code 6-9-38-9
- unit: means :
Indiana Code 6-9-38-12
Sec. 25. The general assembly covenants with each unit subject to this chapter and the purchasers and owners of bonds, leases, obligations, or any other evidences of indebtedness of the county payable from a tax imposed under this chapter that this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of a tax imposed under this chapter so long as the principal, interest, or lease rentals due under those bonds, leases, obligations, or other evidences of indebtedness of a unit that are payable from a tax imposed under this chapter remain unpaid.
As added by P.L.214-2005, SEC.47.