IC 6-9-36-12 — State covenant on bond payments
Chapter 36. Lake County and Porter County Food and Beverage Tax
Bills adding this section
Section text
Sec. 12. With respect to obligations of the board described in section 8(a) of this chapter and bonds, leases, or other obligations for which a pledge has been made under section 10 of this chapter, the general assembly covenants with the holders of these obligations that: (1) this chapter will not be repealed or amended in any manner that will adversely effect the imposition or collection or the tax imposed under this chapter; and (2) this chapter will not be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.
As added by P.L.44-2026, SEC.19.
Source: official publisher (2026 edition)