Indiana § 36-9-32-10 Impairment of rights and remedies of owners of bonds

Indiana Statutes

§ 36-9-32-10 — Impairment of rights and remedies of owners of bonds

Indiana § 36-9-32-10

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 32Financing of Public Improvements in Municipalities

This text of Indiana § 36-9-32-10 (Impairment of rights and remedies of owners of bonds) 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 § 36-9-32-10 (2026).

Text

The state covenants and agrees with the
owners of any bonds issued under this chapter that so long as any
bonds of a municipality issued under this chapter are outstanding or
unpaid, the state will not in any way impair the rights and remedies of
the owners of the bonds, until the bonds, together with interest on them,
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 owners, are fully paid, met, and discharged.

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The state covenants and agrees with the
owners of any bonds issued under this chapter that so long as any
bonds of a municipality issued under this chapter are outstanding or
unpaid, the state will not in any way impair the rights and remedies of
the owners of the bonds, until the bonds, together with interest on them,
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 owners, are fully paid, met, and discharged.