Covenant Not to Impair Taxes Pledged to Bonds

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Sec. 30. With respect to bonds for which a pledge of revenue has been made under this chapter, the general assembly convenants with the authority and the purchasers or owners of those bonds that this chapter will not be repealed or amended in any manner that will adversely affect the imposition of a tax in which revenue was the basis of the pledge as long as the principal of, or interest on, any of those bonds is unpaid.

As added by P.L.346-1989(ss), SEC.7.


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