Sec. 15. The Indiana general assembly covenants with the purchasers of any bonds issued under this chapter that the statute authorizing the levy of a specific tax within the county the proceeds of which are required by this chapter to be deposited in a specific fund created under this chapter will not be repealed, amended, or altered in any manner that would reduce or adversely affect the levy and collection of the tax levied, or reduce the rates or amounts of the tax, as long as the principal of, or interest on, any bonds is unpaid. The board, on behalf of the county, is authorized to make a similar pledge or covenant in any agreement with the purchasers of any bonds issued under this chapter or in any resolution or trust agreement pursuant to which the bonds are issued.
As added by Acts 1982, P.L.218, SEC.3.
Structure Indiana Code
Article 10. Recreation, Culture, and Community Facilities
Chapter 8. Capital Improvement Boards in Certain Counties
36-10-8-1. Application of Chapter
36-10-8-3. Continuation; Creation; Authority to Finance Capital Improvements
36-10-8-4. Membership; Terms; Vacancies; Removal; Oath; Reimbursement of Expenses
36-10-8-5. Organizational Meeting; Officers; Bylaws; Quorum; Approval of Actions
36-10-8-8. Budget; Preparation; Review
36-10-8-9. Deposit of Net Income From Operation of Capital Improvements
36-10-8-10. Payment of Certain Operational Expenses From Capital Improvement Fund
36-10-8-11. Handling and Expenditure of Funds; Treasurer; Controller; Reports; Audits
36-10-8-12. Capital Improvement Fund; Deposit of Tax Revenues; Expenditures
36-10-8-14. Revenue Bonds; Authority to Issue; Procedure
36-10-8-15. Bonds; Covenant With Purchasers; Continuation of Statute
36-10-8-16. General Obligation Bonds; Authority to Issue; Procedure
36-10-8-17. Bonds; Application of Proceeds to Construction Cost; Deposit in Reserve Subaccount
36-10-8-20. Dissolution of Boards Created Under Ic 18-7-18; Escheat of Funds
36-10-8-21. Capital Improvement Board of Managers Operations; Annual Report