Indiana Code — Title 6 (Taxation)
IC 6-9-3-6
Capital development tourism fund; pledge of deposit to
payment of bonds; covenant of general assembly with purchasers of bonds
Sec. 6. (a) The board of managers may enter into an agreement under which any amounts previously deposited in, or to be deposited in, the capital development tourism fund are pledged to payment of bonds described in section 5(b) of this chapter.
(b) With respect to bonds described in section 5(b) of this chapter for which a pledge has been made under subsection (a), the Indiana general assembly covenants with the purchasers of those bonds that:
# (1)
this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of that portion of the tax imposed by this chapter that is dedicated to the capital development tourism fund;
# (2)
this chapter will not be amended in any manner that will reduce the amount of tax revenues dedicated to the capital development tourism fund; and
# (3)
this chapter will not be amended in any manner that will change the purpose for which money dedicated to the capital development tourism fund may be used;
as long as the principal of, or interest on, any of those bonds is unpaid.
As added by P.L.55-1984, SEC.4.
Amendment history
As added by P.L.55-1984, SEC.4.
Source: view the official text
Nearby sections (25 sections)
- 6-9-2.5-7 · Convention and visitor promotion fund
- 6-9-2.5-7.5 · Tourism capital improvement fund
- 6-9-2.5-7.7 · Convention center operating, capital improvement, and
- 6-9-2.5-8 · Unauthorized transfer and use of funds; offenses
- 6-9-2.5-9 · Buildings for public use
- 6-9-3-1 · Special funds board of managers; creation; members;
- 6-9-3-2 · Organizational meeting; election of officers; bylaws, rules,…
- 6-9-3-2.5 · Open door law; public records act
- 6-9-3-3 · Handling and expenditure of funds; audit
- 6-9-3-3.5 · Financial report; summary of board's activities
- 6-9-3-4 · Innkeeper's tax imposed; collection
- 6-9-3-5 · Disposition of tax revenues
- 6-9-3-6 · Capital development tourism fund; pledge of deposit to
- 6-9-3-7 · Failure to pay tax
- 6-9-3-8 · Reports by entities receiving funds
- 6-9-4-0.3 · Legalization of pledges and mortgages of revenues before
- 6-9-4-1 · Application of chapter
- 6-9-4-2 · Convention and visitor commission; creation; membership
- 6-9-4-3 · Powers and duties of commission
- 6-9-4-4 · Expenses of commission; budget; expenditures
- 6-9-4-5 · Reports by not-for-profit corporations receiving funds
- 6-9-4-6 · Tax on lodgings authorized; collection
- 6-9-4-7 · Innkeeper's tax fund; expenditures
- 6-9-4-8 · Unauthorized transfer and use of funds; offenses
- 6-9-4-9 · Bonds or debts; adverse legislation; covenant