Certain pledges prohibited

Sec. 4.5. Except as specifically authorized by the general assembly, the ports of Indiana may not pledge, in any form, to: (1) seek funding from the state in the event of any default in the payment of revenue bonds; or (2) specify, in any form, in an agreement related to revenue bonds that money appropriated by the general assembly may or shall be deposited in a debt service fund or reserve fund for the revenue bonds. As added by P.L.224-2003, SEC.205 and P.L.271-2003, SEC.5. Amended by P.L.98-2008, SEC.13.