Indiana § 6-9-33-9 Payment of obligations

Indiana Statutes

§ 6-9-33-9 — Payment of obligations

Indiana·Art. 9 INNKEEPER'S TAXES; OTHER LOCAL TAXES·Ch. 33 Allen County Supplemental Food and Beverage Tax

(a)Obligations entered into before January 1, 2009, for the acquisition, expansion, remodeling, and improvement of an athletic and exhibition coliseum shall be retired by using money collected from a tax imposed under this chapter.

(b)With respect to obligations for which a pledge has been made under this section before January 1, 2009, the general assembly covenants with the holders of these obligations that:

(1)this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of the tax imposed under this chapter; and

(2)this chapter will not be amended in any manner that will change the purpose for which revenues from the tax imposed under this chapter may be used; as long as the payment of any of those obligations is outstanding.

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(a) Obligations entered into before January 1,
2009, for the acquisition, expansion, remodeling, and improvement of
an athletic and exhibition coliseum shall be retired by using money
collected from a tax imposed under this chapter.
(b) With respect to obligations for which a pledge has been made
under this section before January 1, 2009, the general assembly
covenants with the holders of these obligations that:
(1) this chapter will not be repealed or amended in any manner
that will adversely affect the imposition or collection of the tax
imposed under this chapter; and
(2) this chapter will not be amended in any manner that will
change the purpose for which revenues from the tax imposed
under this chapter may be used;
as long as the payment of any of those obligations is outstanding.

Indiana § 6-9-33-9 (Payment of obligations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.