§ 14-33-20-15 — "Net revenues" defined

Indiana § 14-33-20-15

• Jurisdiction: Indiana
• Art. 33: CONSERVANCY DISTRICTS
• Ch. 20: Water Supply Systems

Text

(a) As used in this section, "net revenues"
means gross revenues less the reasonable cost of operation and
maintenance.
(b) A district coming under this chapter may pay the costs, including
incidental expenses, of constructing or otherwise acquiring all the
works of improvement necessary to furnish water supply for domestic,
industrial, and public use by issuing bonds, notes, or other evidences
of indebtedness to be payable from revenues in the manner provided by
this article. The bonds, notes, or other evidences of indebtedness of the
district for water purposes are payable solely from the net revenues of
the water facilities. All bonds, notes, contracts, warrants, debentures,
and pledges entered into by a district for the purposes of:
(1) this chapter; or
(2) IC 13-3-4 (before its repeal);
do not constitute an obligation payable from the collection of a special
benefits tax.
[Pre-1995 Recodification Citation: 13-3-4-7.]

Legislative History

As added by P.L.1-1995, SEC.26.