Indiana § 36-9-11-21 Pledge of revenues; deposits; irrevocability

Indiana Statutes

§ 36-9-11-21 — Pledge of revenues; deposits; irrevocability

Indiana § 36-9-11-21

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 11Municipal Parking Facilities

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Bluebook

Ind. Code § 36-9-11-21 (2026).

Text

If a pledge of revenues is made under section
20 of this chapter, then the revenues pledged shall be deposited
monthly in the fund or account for the payment of the bonds. The
pledge is irrevocable as long as any of the bonds for which the pledge
is made are outstanding, but the municipality may not make any
covenant relative to the number or location of the parking meters to be
maintained by it in and along its streets.
[Pre-Local Government Recodification Citation: 19-5-11-10
part.]
As added by Acts 1981, P.L.309, SEC.84.

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If a pledge of revenues is made under section
20 of this chapter, then the revenues pledged shall be deposited
monthly in the fund or account for the payment of the bonds. The
pledge is irrevocable as long as any of the bonds for which the pledge
is made are outstanding, but the municipality may not make any
covenant relative to the number or location of the parking meters to be
maintained by it in and along its streets.
[Pre-Local Government Recodification Citation: 19-5-11-10
part.]
As added by Acts 1981, P.L.309, SEC.84.