IC 6-3.6-6-18 (Version b): Pledge of general purpose revenue; payment of bonds; lease payments; approval by fiscal body

Sec. 18. (a) A county, city, town, or nonmunicipal civil taxing unit may pledge its general purpose revenue to the payment of bonds or to lease payments for:

(1) any purpose of the unit;

(2) any purpose of another governmental entity located in any part in the county, including a governmental entity organized on a regional basis; or

(3) any purpose for which general purpose revenue may be used by the unit under this chapter.

(b) The pledge must be approved in an ordinance adopted by the fiscal body of the political subdivision.