Indiana Code 13-21-7-7. Waste management district bonds not corporate obligation or unit indebtedness
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Sec. 7. (a) The waste management district bonds:
(2) are not, in any respect, a corporate obligation or indebtedness of the units that comprise the district.
(1) are special obligations of the district; and
Terms Used In Indiana Code 13-21-7-7
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(b) The waste management district bonds issued under this chapter or IC 13-9.5-9-3 (before its repeal) and the interest on the bonds are payable out of a special tax levied upon all of the property of the district and any other revenues made available for that purpose under this article. The waste management district bonds must recite these terms on the face of the bonds together with the purpose for which the bonds are issued.
[Pre-1996 Recodification Citation: 13-9.5-9-3(f).]
As added by P.L.1-1996, SEC.11.