Ind. Code § 6-9-25-12

Current through P.L. 171-2024

Section 6-9-25-12 - Bonds, leases, or other obligations; adverse legislation covenant

With respect to:

(1) bonds, leases, or other obligations for which a pledge of revenues of the food and beverage tax imposed under this chapter has been made by the county as set forth in section 11 or 11.5 of this chapter; and

(2) bonds issued by a lessor that are payable from lease rentals;

the general assembly covenants with the county, the purchasers or owners of the bonds or other obligations described in subdivision (1), and the owners of bonds described in subdivision (2) that this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of the food and beverage tax imposed by this chapter as long as the principal of any bonds, the interest on any bonds, or the lease rentals due under any lease are unpaid.

IC 6-9-25-12

As added by P.L. 75-1988, SEC.6. Amended by P.L. 50-1994, SEC.8.