Covenant with bond holders
Sec. 25. The general assembly covenants with each unit subject
to this chapter and the purchasers and owners of bonds, leases,
obligations, or any other evidences of indebtedness of the county
payable from a tax imposed under this chapter that this chapter will
not be repealed or amended in any manner that will adversely affect
the imposition or collection of a tax imposed under this chapter so
long as the principal, interest, or lease rentals due under those bonds,
leases, obligations, or other evidences of indebtedness of a unit that
are payable from a tax imposed under this chapter remain unpaid.
As added by P.L.214-2005, SEC.47.
Last modified: May 28, 2006