Sec. 30. The state pledges and agrees with the holders of any bonds issued under this article that the state will not limit or alter the rights vested in the ports of Indiana to fulfill the terms of any agreements made with the holders or in any way impair the rights or remedies of the holders until the bonds, together with the interest, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders, are fully met and discharged. The ports of Indiana is authorized to include this pledge and agreement of the state in any agreement with the holders of the bonds.
As added by P.L.224-2003, SEC.224 and P.L.271-2003, SEC.24. Amended by P.L.98-2008, SEC.38.
Structure Indiana Code
Title 8. Utilities and Transportation
Chapter 1. Ports of Indiana─organization
8-10-1-0.3. Treatment of References to Indiana Port Commission
8-10-1-1. Construction of Ports and Economic Development Projects Authorized
8-10-1-3. Ports of Indiana; Commission Membership; Term of Office; Official Bond; Compensation
8-10-1-4.5. Certain Pledges Prohibited
8-10-1-5. Ports and Projects; Cooperation With Other Entities; Title to Property
8-10-1-7.5. Public Fishing Areas
8-10-1-10. Property Acquisition, Management, and Disposition
8-10-1-12. Indiana Port Fund; Creation and Administration
8-10-1-13. Revenue Bonds; Terms and Form; Negotiability; Governor Approval Required
8-10-1-14. Use of Proceeds of Revenue Bonds; Replacement of Lost or Destroyed Bonds
8-10-1-16. Trust Agreements; Pledge or Assignment of Revenues
8-10-1-17. Rates and Charges; Fixing; Surplus Net Revenues; Disposition
8-10-1-18. Disposition of Revenues
8-10-1-19. Mandamus or Other Action Compelling Compliance With Law
8-10-1-20. Operation, Policing, and Maintenance of Projects
8-10-1-21. Political Subdivisions; Lease, Grant, or Conveyance of Property to Ports of Indiana
8-10-1-22. Audit of Books and Accounts; Annual Report
8-10-1-23. Adverse or Pecuniary Interest; Member, Agent, or Employee
8-10-1-24. Construction of Law
8-10-1-25. Investment in Revenue Bonds by Financial Institutions