Sec. 9. Money in the food and beverage tax receipts fund must be used by the city for one (1) or more of the following purposes: (1) Construction, renovation, improvement, equipping, or maintenance of city capital improvements. (2) Financing, construction, improvement, equipping, operation, maintenance and promotion of the Jasper Community Wellness, Sports and Aquatic Center. (3) The pledge of money under IC 5-1-14-4 for bonds, leases, or other obligations incurred for a purpose described in subdivisions (1) and (2). Revenue derived from the imposition of a tax under this chapter may be treated by the city as additional revenue for the purpose of fixing its budget for the budget year during which the revenues are to be distributed to the city. As added by P.L.236-2023, SEC.120.
IC 6-9-55-10 Covenant Sec. 10. With respect to obligations for which a pledge has been made under section 9 of this chapter, the general assembly covenants with the holders of the obligations that this chapter will not be repealed or amended in a manner that will adversely affect the imposition or collection of the tax imposed under this chapter if the payment of any of the obligations is outstanding. As added by P.L.236-2023, SEC.120.