State covenant on bond payments
Sec. 4.9. With respect to:
(1) bonds, leases, or other obligations to which the bureau has
pledged revenues under this chapter; and
(2) bonds issued by a lessor that are payable from lease rentals;
the general assembly covenants with the bureau and the purchasers
or owners of the bonds or other obligations described in this section
that this chapter will not be repealed or amended in any manner that
will adversely affect the collection of the tax imposed under this
chapter or the money deposited in the promotion fund or the alternate
revenue fund as long as the principal of or interest on any bonds, or
the lease rentals due under any lease, are unpaid.
As added by P.L.46-1998, SEC.4. Amended by P.L.168-2005, SEC.6.
Last modified: May 28, 2006