Indiana § 8-1.5-2-14 Costs of construction or acquisition; security for payment

Indiana Statutes

§ 8-1.5-2-14 — Costs of construction or acquisition; security for payment

Indiana § 8-1.5-2-14

Art. 1.5MUNICIPAL UTILITIES

Ch. 2Transfer, Acquisition, and Improvement of Utilities by

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Bluebook

Ind. Code § 8-1.5-2-14 (2026).

Text

A municipality that constructs or acquires a
utility may, through its municipal legislative body, provide for and
secure the payment of the cost of constructing, acquiring, extending, or
improving the utility by assigning or otherwise pledging the property
acquired, together with the net earnings or profits derived or to be
derived from the operation of the utility or utilities. Contracts, warrants,
debentures, or pledges of future revenues entered into by a municipally
owned utility are not an indebtedness of the municipality within the
meaning of any constitutional debt limitation.
As added by Acts 1982, P.L.74, SEC.1.

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A municipality that constructs or acquires a
utility may, through its municipal legislative body, provide for and
secure the payment of the cost of constructing, acquiring, extending, or
improving the utility by assigning or otherwise pledging the property
acquired, together with the net earnings or profits derived or to be
derived from the operation of the utility or utilities. Contracts, warrants,
debentures, or pledges of future revenues entered into by a municipally
owned utility are not an indebtedness of the municipality within the
meaning of any constitutional debt limitation.
As added by Acts 1982, P.L.74, SEC.1.