§ 6-9-25-12 — Bonds, leases, or other obligations; adverse legislation covenant

Indiana § 6-9-25-12

• Jurisdiction: Indiana
• Art. 9: INNKEEPER'S TAXES; OTHER LOCAL TAXES
• Ch. 25: Henry County Food and Beverage Tax

Text

With respect to:
(1) bonds, leases, or other obligations for which a pledge of
revenues of the food and beverage tax imposed under this chapter
has been made by the county as set forth in section 11 or 11.5 of
this chapter; and
(2) bonds issued by a lessor that are payable from lease rentals;
the general assembly covenants with the county, the purchasers or
owners of the bonds or other obligations described in subdivision (1),
and the owners of bonds described in subdivision (2) that this chapter
will not be repealed or amended in any manner that will adversely
affect the imposition or collection of the food and beverage tax
imposed by this chapter as long as the principal of any bonds, the
interest on any bonds, or the lease rentals due under any lease are
unpaid.

Legislative History

As added by P.L.75-1988, SEC.6. Amended by P.L.50-1994, SEC.8.