Ind. Code § 8-10-1-4.5

Current through P.L. 171-2024

Section 8-10-1-4.5 - Certain pledges prohibited

Except as specifically authorized by the general assembly, the ports of Indiana may not pledge, in any form, to:

(1) seek funding from the state in the event of any default in the payment of revenue bonds; or

(2) specify, in any form, in an agreement related to revenue bonds that money appropriated by the general assembly may or shall be deposited in a debt service fund or reserve fund for the revenue bonds.

IC 8-10-1-4.5

As added by P.L. 224-2003, SEC.205 and P.L. 271-2003, SEC.5. Amended by P.L. 98-2008, SEC.13.