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2018 Indiana Code
TITLE 6. Taxation
ARTICLE 3.6. LOCAL INCOME TAXES
CHAPTER 10. Permitted Expenditures
6-3.6-10-6. Pledge of revenues; enforceability; covenant by the general assembly
Universal Citation: IN Code § 6-3.6-10-6 (2018)
IC 6-3.6-10-6 Pledge of revenues; enforceability; covenant by the general assembly
Sec. 6. (a) A pledge of revenues from a tax imposed under IC 6-3.6-6 or IC 6-3.6-7 (but not IC 6-3.6-5) is enforceable in accordance with IC 5-1-14.
(b) With respect to obligations for which a pledge has been made under IC 6-3.6-6 or IC 6-3.6-7 (but not IC 6-3.6-5), the general assembly covenants with the county and the purchasers or owners of those obligations that this article will not be repealed or amended in any manner that will adversely affect the tax collected under this article as long as the principal of or interest on those obligations is unpaid.
As added by P.L.243-2015, SEC.10.
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