Covenant of general assembly; impairment of bonds
Sec. 7. With respect to:
(1) bonds, leases, or other obligations to which the city 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 city 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this chapter will not be repealed or amended in any manner that will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 city ticket tax 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.254-2003, SEC.13.
Last modified: May 28, 2006