Indiana § 36-7-29-22 Guaranty of rights

Indiana Statutes

§ 36-7-29-22 — Guaranty of rights

Indiana·Title 36 LOCAL GOVERNMENT·Art. 7 PLANNING AND DEVELOPMENT·Ch. 29 Local Environmental Response Financing

The general assembly covenants and agrees with the holders of any district bonds that as long as any district bonds issued under this chapter are outstanding and unpaid, the state:

(1)will not limit or alter the rights of the district to fulfill the terms of any agreements made with the holders of the district bonds; and

(2)will not in any way impair the rights and remedies of the holders of the district bonds; until the district bonds, together with interest on the district bonds, interest on any unpaid installment of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of the bondholders are fully paid, met, and discharged.

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The general assembly covenants and agrees
with the holders of any district bonds that as long as any district bonds
issued under this chapter are outstanding and unpaid, the state:
(1) will not limit or alter the rights of the district to fulfill the
terms of any agreements made with the holders of the district
bonds; and
(2) will not in any way impair the rights and remedies of the
holders of the district bonds;
until the district bonds, together with interest on the district bonds,
interest on any unpaid installment of interest, and all costs and
expenses in connection with any action or proceedings by or on behalf
of the bondholders are fully paid, met, and discharged.

Indiana § 36-7-29-22 (Guaranty of rights) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.