Indiana § 36-1-14-1.5 Surplus earnings of municipally owned utilities; donation to local
economic development organizations; qualifying municipalities;
existing obligations

Indiana Statutes

§ 36-1-14-1.5 — Surplus earnings of municipally owned utilities; donation to local economic development organizations; qualifying municipalities; existing obligations

Indiana § 36-1-14-1.5

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 14Donations

This text of Indiana § 36-1-14-1.5 (Surplus earnings of municipally owned utilities; donation to local economic development organizations; qualifying municipalities; existing obligations) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-1-14-1.5 (2026).

Text

5.

(a)This section applies to a municipality that meets both of the following:

(1)The municipality has a municipally owned utility that has donated funds of the municipally owned utility to a local economic development organization before July 1, 2012.

(2)The municipality is a city having a population of more than eleven thousand (11,000) and less than eleven thousand nine hundred (11,900).

(b)As used in this section, "local economic development organization" includes the following:

(1)A nonprofit corporation established under state law whose primary purpose is the promotion of industrial or business development in Indiana, the retention or expansion of Indiana businesses, or the development of entrepreneurial activities in Indiana.

(2)A nonprofit educational organization whose prima

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5. (a) This section applies to a municipality
that meets both of the following:
(1) The municipality has a municipally owned utility that has
donated funds of the municipally owned utility to a local
economic development organization before July 1, 2012.
(2) The municipality is a city having a population of more than
eleven thousand (11,000) and less than eleven thousand nine
hundred (11,900).
(b) As used in this section, "local economic development
organization" includes the following:
(1) A nonprofit corporation established under state law whose
primary purpose is the promotion of industrial or business
development in Indiana, the retention or expansion of Indiana
businesses, or the development of entrepreneurial activities in
Indiana.
(2) A nonprofit educational organization whose primary purpose
is educating and developing local leadership for economic
development initiatives.
(3) Any similar organization, including a partnership between
private enterprise and one (1) or more units, the purposes of
which include:
(A) promoting development activities in one (1) or more units;
(B) coordinating local efforts to attract jobs and new business
investment;
(C) providing assistance to existing businesses to foster growth
and job retention; and
(D) sustaining and improving the quality of life in the units
served.
(c) A municipal legislative body, with the approval of the board (as
defined in IC 8-1.5-3-2) of the municipality's municipally owned utility,
may donate funds from the municipally owned utility's surplus earnings
(as defined in IC 8-1.5-3-11) to a local economic development
organization as long as the terms and conditions of any bond ordinance,
resolution, indenture, contract under IC 8-1-2.2, or similar instrument
binding upon the municipally owned utility are complied with before
the donation is made.