Indiana § 8-1.5-5-25 Use of bond payment revenues; pledge of user fees; reductions in fees

Indiana Statutes

§ 8-1.5-5-25 — Use of bond payment revenues; pledge of user fees; reductions in fees

Indiana § 8-1.5-5-25

Art. 1.5MUNICIPAL UTILITIES

Ch. 5Department of Storm Water Management

This text of Indiana § 8-1.5-5-25 (Use of bond payment revenues; pledge of user fees; reductions in fees) 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 § 8-1.5-5-25 (2026).

Text

(a)Revenues received by the department may be used to pay for bonds issued to acquire, construct, install, operate, and maintain facilities and land for storm water collection and disposal systems.

(b)If there are bonds outstanding for which user fees were pledged, the board may not rescind user fees or reduce them below a rate that would produce one hundred twenty-five percent (125%) of the highest annual debt service on the bonds issued under this chapter to their final maturity, based on an average of the immediately preceding three (3) years of user fee collections, if the user fees have been levied for the preceding three (3) years. If the user fees have not been levied for the preceding three (3) years, the board may not reduce user fees below a rate that would produce one hundred

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(a) Revenues received by the department may
be used to pay for bonds issued to acquire, construct, install, operate,
and maintain facilities and land for storm water collection and disposal
systems.
(b) If there are bonds outstanding for which user fees were pledged,
the board may not rescind user fees or reduce them below a rate that
would produce one hundred twenty-five percent (125%) of the highest
annual debt service on the bonds issued under this chapter to their final
maturity, based on an average of the immediately preceding three (3)
years of user fee collections, if the user fees have been levied for the
preceding three (3) years. If the user fees have not been levied for the
preceding three (3) years, the board may not reduce user fees below a
rate that would produce one hundred twenty-five percent (125%) of the
highest debt service, based upon a study by a qualified public
accountant or financial adviser.