Contracts on unit pricing basis

Sec. 2. (a) Except as provided in section 8 of this chapter and subject to section 2.5 of this chapter, the commission may contract with a person for the provision of certain minimum quantities of stream flow or for the sale of water on a unit pricing basis. A contract for the provision of minimum stream flows or for the sale of water on a unit pricing basis: (1) must be executed by the commission; and (2) is subject to approval by the following: (A) The attorney general. (B) The governor. (C) The person desiring the use. (b) A contract entered into under this chapter may not cover a period of more than fifty (50) years. (c) Before the submission of the contract to the governor for approval, the commission shall submit a copy of the contract to the department. The department shall, within twenty (20) days of receipt, do the following: (1) Prepare a memorandum relative to the effect that the contract might have on recreational facilities. (2) Submit the memorandum to the governor for the governor's consideration. [Pre-1995 Recodification Citation: 13-2-1-7(b).] As added by P.L.1-1995, SEC.18. Amended by P.L.231-2007, SEC.1.