Indiana § 6-9-34-7 Covenant of general assembly; impairment of bonds

Indiana Statutes

§ 6-9-34-7 — Covenant of general assembly; impairment of bonds

Indiana·Art. 9 INNKEEPER'S TAXES; OTHER LOCAL TAXES·Ch. 34 Entertainment Facility Admissions Tax

With respect to:

(1)bonds, leases, or other obligations to which the city has pledged revenues under this chapter; and

(2)bonds issued by a lessor that are payable from lease rentals; the general assembly covenants with the city and the purchasers or owners of the bonds or other obligations described in this section that this chapter will not be repealed or amended in any manner that will adversely affect the collection of the tax imposed under this chapter or the money deposited in the city ticket tax fund, as long as the principal of or interest on any bonds, or the lease rentals due under any lease, are unpaid.

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With respect to:
(1) bonds, leases, or other obligations to which the city has
pledged revenues under this chapter; and
(2) bonds issued by a lessor that are payable from lease rentals;
the general assembly covenants with the city and the purchasers or
owners of the bonds or other obligations described in this section that
this chapter will not be repealed or amended in any manner that will
adversely affect the collection of the tax imposed under this chapter or
the money deposited in the city ticket tax fund, as long as the principal
of or interest on any bonds, or the lease rentals due under any lease, are
unpaid.

Indiana § 6-9-34-7 (Covenant of general assembly; impairment of bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.