Ind. Code § 6-9-35-16

Current through P.L. 171-2024

Section 6-9-35-16 - Payment of obligations; covenant with holders

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:

(1) this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of the tax imposed under this chapter; and

(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;

as long as the payment of any of those obligations is outstanding.

IC 6-9-35-16

As added by P.L. 214-2005, SEC.44.