Indiana § 36-7-15.1-48 Pledge of revenue received or to be received; nonimpairment by
general assembly

Indiana Statutes

§ 36-7-15.1-48 — Pledge of revenue received or to be received; nonimpairment by general assembly

Indiana § 36-7-15.1-48

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 15.1Redevelopment of Areas in Marion County Needing

This text of Indiana § 36-7-15.1-48 (Pledge of revenue received or to be received; nonimpairment by general assembly) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-7-15.1-48 (2026).

Text

(a)Notwithstanding any other law, the legislative body of the excluded city may pledge revenues received or to be received by the excluded city from:

(1)the excluded city's certified shares of the local income tax under IC 6-3.6;

(2)any other source legally available to the excluded city for the purposes of this chapter; or

(3)a combination of revenues under subdivisions (1) through (2); in any amount to pay amounts payable under section 45 or 46 of this chapter.

(b)The legislative body of the excluded city may covenant to adopt an ordinance to increase revenues at the time it is necessary to raise funds to pay amounts payable under section 45 or 46 of this chapter.

(c)The commission may pledge revenues received or to be received from any source legally available to it for the purpos

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(a) Notwithstanding any other law, the
legislative body of the excluded city may pledge revenues received or
to be received by the excluded city from:
(1) the excluded city's certified shares of the local income tax
under IC 6-3.6;
(2) any other source legally available to the excluded city for the
purposes of this chapter; or
(3) a combination of revenues under subdivisions (1) through (2);
in any amount to pay amounts payable under section 45 or 46 of this
chapter.
(b) The legislative body of the excluded city may covenant to adopt
an ordinance to increase revenues at the time it is necessary to raise
funds to pay amounts payable under section 45 or 46 of this chapter.
(c) The commission may pledge revenues received or to be received
from any source legally available to it for the purposes of this chapter
in any amount to pay amounts payable under section 45 or 46 of this
chapter.
(d) The pledge or the covenant under this section may be for the life
of the bonds issued under section 45 of this chapter, the term of a lease
entered into under section 46 of this chapter, or a shorter period as
determined by the legislative body of the excluded city. Money pledged
by the legislative body of the excluded city under this section shall be
considered revenues or other money available to the commission under
sections 45 through 46 of this chapter.
(e) The general assembly covenants not to impair this pledge or
covenant so long as any bonds issued under section 45 of this chapter
are outstanding or as long as any lease entered into under section 46 of
this chapter is still in effect. The pledge or covenant shall be enforced
as provided in IC 5-1-14-4.