Title 8, UTILITIES AND TRANSPORTATION

Sec. 23. If general obligation bonds are issued, they: (1) may be issued in any denomination; (2) are payable at a time not to exceed forty (40) years from issuance; (3) may bear interest at any rate payable semiannually; and (4) shall be sold for not less than par value and accr…

Sec. 24. (a) The board of a municipally owned utility, as defined by IC 8-1.5-3-2, shall, at least semiannually, set aside from the net earnings a sufficient amount to pay the interest and principal, as they become due, on revenue bonds issued in payment for the utility or for it…

Sec. 25. (a) The municipal legislative body, after providing for the: (1) payment of operation and maintenance expenses of the utility; (2) payment of the interest and principal on revenue bonds and creation of reserves for them; (3) payment of the interest and principal on gener…

Sec. 26. (a) To pay the principal and interest on bonds issued for the construction, acquisition, extension, or improvement of a municipally owned utility, the municipal legislative body may levy an annual tax of sufficient amount on all taxable property of the municipality. (b) …

Sec. 27. (a) A municipality may lease waterworks facilities from a not-for-profit corporation, a public utility, a county, or a municipality. The term of the lease may not exceed fifty (50) years. The lease must provide that the municipality has an option to: (1) renew the lease …

Sec. 28. (a) A waterworks lease may provide that as a part of the lease rental for the waterworks facilities the lessee agrees to: (1) pay all property taxes and assessments levied against or on account of the leased facilities; (2) maintain insurance on the leased facilities for…

Sec. 29. (a) When the municipality and the lessor have agreed upon the terms and conditions of any waterworks lease proposed to be entered into under this chapter and before the final execution of the lease, a notice shall be given by publication in accordance with IC 5-3-1 to al…

Sec. 3. (a) Subject to restrictions imposed by a bond ordinance, resolution, indenture, contract under IC 8-1-2.2, or similar instrument binding upon it, a municipality may sell or otherwise dispose of any of its municipally owned utilities under this chapter. (b) A municipality …

Sec. 30. (a) After the hearing under section 29 of this chapter, the municipal legislative body may: (1) authorize the execution of the waterworks lease as originally agreed upon; or (2) make modifications as may be agreed upon with the proposed lessor; but the lease rental as se…

Sec. 31. All waterworks facilities leased by a lessor contracting with a municipality under this chapter are exempt from all state, county, and other taxes. However, the rental paid to a lessor under the terms of such a lease is subject to all applicable taxes. As added by Acts 1…

Sec. 32. As to waterworks facilities leased and acquired under this chapter, it is not necessary to comply with any other statutes concerning the leasing and acquisition of waterworks facilities by municipalities except as specifically required by this chapter. As added by Acts 1…

Sec. 33. (a) This section does not apply to the following: (1) A municipality that, as of July 1, 2012, had established and operated a water utility. (2) An action brought under: (A) IC 8-1-2-92; (B) IC 8-1-2-93; or (C) this chapter; before March 1, 2013. (b) Not more than thirty…

Sec. 4. Whenever the municipal legislative body or the municipal executive determines to sell or otherwise dispose of nonsurplus municipally owned utility property, it shall provide for the following in a writing that shall be made available, upon request, for inspection and copy…

Sec. 5. (a) Each appraiser appointed as provided by section 4 of this chapter must: (1) by education and experience, have such expert and technical knowledge and qualifications as to make a proper appraisal and valuation of the property of the type and nature involved in the sale…

Sec. 6. (a) The ordinance adopted by the municipal legislative body under section 5(d) of this chapter must provide for: (1) the sale or disposition of the municipally owned utility property; (2) the manner of the sale or disposition; (3) the price, terms, and conditions of the s…

Sec. 6.1. (a) This section applies to a municipality that adopts an ordinance under section 5(d) of this chapter after March 28, 2016. (b) Before a municipality may proceed to sell or otherwise dispose of all or part of its nonsurplus utility property under an ordinance adopted u…

Sec. 7. (a) A certificate of public convenience and necessity is not required as a condition precedent to the owning, leasing, acquisition, construction, or operation of a utility by a municipality, even if there is a public utility engaged in a similar service. The acquisition o…

Sec. 8. Before a municipal legislative body: (1) proposes to construct or acquire a utility; and (2) makes a determination as to public convenience and necessity; it may appropriate out of its general fund an amount not exceeding five percent (5%) of the total estimated cost of c…

Sec. 9. If the municipal legislative body proceeds to construct or acquire the utility, there must be included in the total amount of money to be raised by the issuance of bonds in connection with the construction or acquisition of the utility the amount of the expenditures that …

Sec. 0.1. The following amendments to this chapter apply as follows: (1) The addition of section 1.1 of this chapter by P.L.116-1989 applies to all accounts receivable that are found to be uncollectible on July 1, 1989, and to accounts that are found to be uncollectible after Jun…

Sec. 1. (a) In order to remove the handicaps and hazards on the congested highways in Indiana, to facilitate vehicular traffic throughout the state, to promote the agricultural and industrial development of the state, and to provide for the general welfare by the construction of …

Sec. 1.1. (a) A written agreement between the authority and a city, town, or county under section 1 of this chapter, or a similar government cooperative statute, may provide for a mandatory transfer of funds by the state comptroller under this section if one (1) of the parties be…

Sec. 1.3. (a) The authority shall establish a written procedure for allocating money to projects described in section 1(a)(3) and 1(a)(4) of this chapter. (b) The procedure established under this section must include at least the following: (1) An application procedure to identif…

Sec. 1.4. Projects initially funded under section 1(a)(3) and 1(a)(4) of this chapter after December 31, 1996, must be selected under the written procedures developed under section 1.3 of this chapter, as added by P.L.83-1996. As added by P.L.220-2011, SEC.201.

Sec. 10. (a) Subject to IC 8-9.5-8-10, the authority may provide for the issuance of toll road revenue refunding bonds of the state payable solely from the funds provided by this chapter for payment for the purpose of: (1) refunding any bonds then outstanding which shall have bee…

Sec. 10.5. (a) If at any time all revenues are pledged to secure the payment of any toll road revenue bonds then outstanding, the authority, rather than providing for the issuance of another series of bonds equally secured by a pledge of such revenues or for immediate refunding o…

Sec. 11. All final actions of the authority shall be journalized, and the journal shall be open to the inspection of the public at all reasonable times. Formerly: Acts 1951, c.281, s.11. As amended by P.L.109-1983, SEC.15.

Sec. 12. (a) The exercise of the powers granted by this chapter will be in all respects for: (1) the benefit of the people of the state; (2) the increase of their commerce and prosperity; and (3) the improvement of their health and living conditions. (b) As the operation and main…

Sec. 13. (a) In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or w…

Sec. 14. (a) The authority may do the following: (1) Fix, revise, charge, and collect tolls for the use of each toll road project by any person, partnership, association, limited liability company, or corporation desiring the use of any part thereof, including the right-of-way ad…

Sec. 14.5. (a) Subject to the provisions and requirements of any trust agreement providing for the issuance of toll road revenue bonds and only to the extent permitted by such trust agreement, the authority shall fix the tolls for any toll road under its jurisdiction. (b) Subsect…

Sec. 14.7. (a) As used in this section, "development authority" refers to the development authority established under IC 36-7.5-2-1. (b) An appropriation made by the general assembly to the development authority may be distributed to the development authority only if all transfer…

Sec. 15. (a) All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds, to be held and applied solely as provided in this chapter. Such funds shall be kept in depositories as selecte…

Sec. 16. Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee under any trust agreement, except to the extent the rights granted by this chapter may be restricted by any applicable trust agreement, may: (1) ei…

Sec. 17. The authority shall have power to adopt bylaws and, under IC 4-22-2, rules and regulations as it may deem advisable for: (1) the control and regulation of traffic on any toll road project; (2) the protection and preservation of property under its jurisdiction and control…

Sec. 17.2. (a) Notwithstanding IC 9, the authority may adopt rules: (1) Establishing weight and size limitations for vehicles using a toll road project, subject to the following: (A) The operator of any vehicle exceeding any of the maximum allowable dimensions or weights as set o…

Sec. 18. (a) Each toll road project as defined in section 4(4) of this chapter, when constructed and opened to traffic shall be maintained and kept in good condition and repair by the authority. Each such project shall also be policed and operated by such force of police, toll-ta…

Sec. 19. (a) The authority may, after adopting a resolution and after receiving the governor's approval, at any time determine under IC 8-23-7 that a toll road project constructed or operated by the authority, other than a toll road project that is subject to a public-private agr…

Sec. 2. (a) Toll road revenue bonds issued under the provisions of this chapter: (1) shall not be deemed to constitute a debt of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political subdivision; and (2) shall …

Sec. 20. (a) The department shall expend out of any funds available for the purpose such money as may be necessary for the study of any toll road project or projects and to use its engineering and other forces, including consulting engineers and traffic engineers, for the purpose…

Sec. 21. This chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers e…

Sec. 22. This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof. Formerly: Acts 1951, c.281, s.22. As amended by P.L.66-1984, SEC.58.

Sec. 23. (a) The authority, in addition to the other powers conferred upon it under this chapter, may do the following: (1) Provide for refunding or advance refunding of any outstanding bonds by the issuance of bonds to refund outstanding bonds and to pay any redemption premiums …

Sec. 24. (a) The authority shall cause a study to be made as to the feasibility of construction of additional interchanges along toll roads constructed or operated by the authority, and near population and traffic generating centers, including but not limited to, cities of the se…

Sec. 25. Unless the authority publicly declares an emergency, it may not during any six (6) month period make separate contracts or agreements with another party for similar purposes under section 5(7) of this chapter without advertising for and accepting public bids, if the aggr…

Sec. 26. Notwithstanding any other provision of this chapter, the authority may not take actions that would violate the rights of any holders or owners of outstanding bonds of the authority. As added by P.L.48-1986, SEC.5.