Indiana § 8-1.5-2-28 Lease of waterworks facilities; payment of operating expenses;
sufficiency of rates and charges

Indiana Statutes

§ 8-1.5-2-28 — Lease of waterworks facilities; payment of operating expenses; sufficiency of rates and charges

Indiana § 8-1.5-2-28

Art. 1.5MUNICIPAL UTILITIES

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

This text of Indiana § 8-1.5-2-28 (Lease of waterworks facilities; payment of operating expenses; sufficiency of rates and charges) 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 § 8-1.5-2-28 (2026).

Text

(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 the benefit of the lessor; and

(3)assume all responsibilities for the operation, maintenance, repair, alterations, and additions of the leased facilities.

(b)All of the expenses incurred under subsection (a) and the lease rental are payable solely from the revenues derived from water rates and charges to be collected by the lessee from property and users in the area served by the leased facilities.

(c)The lessee may establish, fix, bill, and collect rates and charges with respect to the property and users in the area se

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(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 the benefit of
the lessor; and
(3) assume all responsibilities for the operation, maintenance,
repair, alterations, and additions of the leased facilities.
(b) All of the expenses incurred under subsection (a) and the lease
rental are payable solely from the revenues derived from water rates
and charges to be collected by the lessee from property and users in the
area served by the leased facilities.
(c) The lessee may establish, fix, bill, and collect rates and charges
with respect to the property and users in the area served by the leased
facilities that are sufficient:
(1) to pay the costs of operation, maintenance, repair, alterations,
depreciation, and additions of the leased facilities; and
(2) to pay the lease rental as it becomes due.
Rates and charges too low to meet these requirements are unlawful.
These rates and charges are subject to approval in accordance with IC 8-1.5-3-8.
As added by Acts 1982, P.L.74, SEC.1.