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Indiana Code 6-9-26-15. Pledge of funds to finance obligations

Indiana Code > Title 6 > Article 9 > Chapter 26 > § 6-9-26-15. Pledge of funds to finance obligations

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IC 6-9-26-15
Pledge of funds to finance obligations
   Sec. 15. (a) The county may enter into an agreement under which amounts deposited in, or to be deposited in, the fund are pledged to payment of obligations issued to finance the uses for the money authorized under section 12 or 12.5 of this chapter.
  (b) With respect to obligations for which a pledge has been made under subsection (a), 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    (1) this chapter will not be repealed or amended in any manner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.
As added by P.L.74-1988, SEC.2. Amended by P.L.51-1992, SEC.4.

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