Indiana Statutes
§ 8-25-5-6 — Pledges of revenues, covenants
(a)Except as provided in subsection (b), the
county fiscal body may pledge revenues for the payment of principal
and interest on the bonds and for other purposes under the ordinance
as provided by IC 5-1-14-4, including revenues from the local income
tax in Delaware County, Hamilton County, Hancock County, Hendricks
County, Johnson County, Madison County, or Marion County.
(b)The county fiscal body may not pledge to levy ad valorem
property taxes for these purposes.
(c)If the county fiscal body has pledged revenues from the local
income tax as set forth in subsection (a), the county fiscal body may
covenant that the county fiscal body will not repeal or modify the tax
in a manner that would adversely affect owners of outstanding bonds
issued under this chapter. The county fiscal body ma
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Legislative History
As added by P.L.153-2014, SEC.17. Amended by P.L.197-2016,
SEC.95; P.L.247-2017, SEC.29.
Nearby Sections
15
§ 8-1-1-11
Staff of commission§ 8-1-1-12
Repealed§ 8-1-1-13
Repealed§ 8-1-1-14
Annual report§ 8-1-1-15
Implementing rules; duration§ 8-1-1-16
Commission to consider effect of governmental requirements upon
utility's operational expenses§ 8-1-1-4
Repealed§ 8-1-1-4.1
Payment of expenses§ 8-1-1-6
Repealed