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Indiana Code — Title 6 (Taxation)

IC 6-9-4-9

Bonds or debts; adverse legislation; covenant

Official textiga.in.govlast amended

Sec. 9. With respect to bonds or debt for which a pledge of tax revenues has been made under section 3 of this chapter, the general assembly covenants with the commission, the county, the purchasers of those bonds, and the lenders to a not-for-profit corporation under this chapter 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this chapter will not be repealed or amended in any manner that will adversely affect the imposition or collection of the tax imposed by this chapter or the rights of lenders or bond purchasers; and

# (2)

this chapter will not be amended in any manner that will change the purpose for which revenues from the tax imposed by this chapter may be used;
as long as the principal of, or interest on, any of the bonds or debt is unpaid.
As added by P.L.75-1988, SEC.3.

Amendment history

As added by P.L.75-1988, SEC.3.

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Nearby sections (25 sections)
  1. 6-9-3-6 · Capital development tourism fund; pledge of deposit to
  2. 6-9-3-7 · Failure to pay tax
  3. 6-9-3-8 · Reports by entities receiving funds
  4. 6-9-4-0.3 · Legalization of pledges and mortgages of revenues before
  5. 6-9-4-1 · Application of chapter
  6. 6-9-4-2 · Convention and visitor commission; creation; membership
  7. 6-9-4-3 · Powers and duties of commission
  8. 6-9-4-4 · Expenses of commission; budget; expenditures
  9. 6-9-4-5 · Reports by not-for-profit corporations receiving funds
  10. 6-9-4-6 · Tax on lodgings authorized; collection
  11. 6-9-4-7 · Innkeeper's tax fund; expenditures
  12. 6-9-4-8 · Unauthorized transfer and use of funds; offenses
  13. 6-9-4-9 · Bonds or debts; adverse legislation; covenant
  14. 6-9-6-1 · Application of chapter
  15. 6-9-6-2 · Special funds board of managers; creation
  16. 6-9-6-3 · Meetings; officers; rules; quorum
  17. 6-9-6-4 · Funds; deposit; audit
  18. 6-9-6-5 · Powers of board
  19. 6-9-6-6 · Tax on lodgings; collection
  20. 6-9-6-7 · Convention, tourism, and recreation fund
  21. 6-9-6-8 · Transfer and use of funds restricted; offense
  22. 6-9-7-1 · Application of chapter
  23. 6-9-7-2 · Convention and visitor commission; creation
  24. 6-9-7-3 · Powers and duties of commission
  25. 6-9-7-4 · Expenses of commission; budget; expenditures
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