Indiana § 36-7-23-30 Covenant not to impair taxes pledged to bonds

Indiana Statutes

§ 36-7-23-30 — Covenant not to impair taxes pledged to bonds

Indiana § 36-7-23-30

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 23Multiple County Infrastructure Authority

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Bluebook

Ind. Code § 36-7-23-30 (2026).

Text

With respect to bonds for which a pledge of
revenue has been made under this chapter, the general assembly
convenants with the authority and the purchasers or owners of those
bonds that this chapter will not be repealed or amended in any manner
that will adversely affect the imposition of a tax in which revenue was
the basis of the pledge as long as the principal of, or interest on, any of
those bonds is unpaid.

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With respect to bonds for which a pledge of
revenue has been made under this chapter, the general assembly
convenants with the authority and the purchasers or owners of those
bonds that this chapter will not be repealed or amended in any manner
that will adversely affect the imposition of a tax in which revenue was
the basis of the pledge as long as the principal of, or interest on, any of
those bonds is unpaid.