§ 8-10-1-17 — Rates and charges; fixing; surplus net revenues; disposition

Indiana § 8-10-1-17

• Jurisdiction: Indiana
• Art. 10: PORTS
• Ch. 1: Ports of Indiana─Organization

Text

The ports of Indiana shall be authorized to fix,
review, charge, and collect fees, tolls, rentals, and other charges for the
use of the ports, projects, terminal facilities, and lands under the
jurisdiction or control of the ports of Indiana or services rendered by
the ports of Indiana, and the aggregate thereof shall provide revenues
at least sufficient to pay the cost of operation, maintenance, and repair
of the port or project and terminal facilities, including the
administration expenses of the ports of Indiana, and in case revenue
bonds are issued, sufficient to pay the interest on and principal of the
bonds in accordance with their terms, and also sufficient to establish
and maintain reserves created for all such purposes and for
depreciation purposes. The fixing and collection of such fees, tolls,
rentals and other charges and the expenditure of the revenues derived
therefrom shall not be subject to the supervision or regulation by any
other officer, commission, board, bureau, or agency of the state. After
such bonds have been fully paid and discharged and all obligations
under any trust agreement securing the same have been performed or
satisfied, any remaining surplus net revenues and all surplus net
revenues thereafter derived from the operation of the port or project
shall be paid into the state general fund.
Formerly: Acts 1961, c.11, s.17. As amended by P.L.224-2003,
SEC.217 and P.L.271-2003, SEC.17; P.L.98-2008, SEC.27.