§ 13-21-7-7 — Waste management district bonds not corporate obligation or unit indebtedness

Indiana § 13-21-7-7

• Jurisdiction: Indiana
• Art. 21: SOLID WASTE MANAGEMENT DISTRICTS
• Ch. 7: Financing: Waste Management District Bonds

Text

(a) The waste management district bonds:
(1) are special obligations of the district; and
(2) are not, in any respect, a corporate obligation or indebtedness
of the units that comprise the district.
(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).]

Legislative History

As added by P.L.1-1996, SEC.11.