Indiana § 36-7-30-21 - Covenant and pledge of revenues
Full text of Indiana Indiana Code § 36-7-30-21 — Covenant and pledge of revenues, with citation guidance and answers to common questions.
§ 36-7-30-21. Covenant and pledge of revenues
Sec. 21. (a) Notwithstanding any other law, the legislative body may pledge revenues received or to be received by the unit from:
(1) the unit's additional revenue from the local income tax that is designated for certified shares or economic development under IC 6-3.6-6;
(2) any other source legally available to the unit for the purposes of this chapter; or
(3) any combination of revenues under subdivisions (1) through (2);
in any amount to pay amounts payable under section 18 or 19 of this chapter.
(b) The legislative body may covenant to adopt an ordinance to increase revenues at the time it is necessary to raise funds to pay any amounts payable under section 18 or 19 of this chapter.
(c) The reuse authority may pledge revenues received or to be received from any source legally available to the reuse authority for the purposes of this chapter in any amount to pay amounts payable under section 18 or 19 of this chapter.
(d) The pledge or covenant under this section may be for the term of the bonds issued under section 18 of this chapter, the term of a lease entered into under section 19 of this chapter, or for a shorter period as determined by the legislative body. Money pledged by the legislative body under this section shall be considered revenues or other money available to the reuse authority under sections 18 through 19 of this chapter.
(e) The general assembly covenants not to impair this pledge or covenant as long as any bonds issued under section 18 of this chapter are outstanding or as long as any lease entered into under section 19 of this chapter is still in effect. The pledge or covenant shall be enforced as provided in IC 5-1-14-4.
As added by P.L.26-1995, SEC.14. Amended by P.L.197-2016, SEC.132.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-7-30-21
What does Indiana Code § 36-7-30-21 cover?
Section 36-7-30-21 ("Covenant and pledge of revenues") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-7-30-21?
A common citation format is "Indiana Code § 36-7-30-21" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-7-30-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.