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·Title 36 LOCAL GOVERNMENT·Art. 9 TRANSPORTATION AND PUBLIC WORKS·Ch. 32 Financing of Public Improvements in Municipalities

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.

Indiana § 36-9-32-10 (Impairment of rights and remedies of owners of bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.