Indiana § 8-5-15-20 Agreements between district and system; contents

Indiana Statutes

§ 8-5-15-20 — Agreements between district and system; contents

Indiana·Art. 5 COMMUTER RAILWAYS·Ch. 15 Commuter Transportation Districts

Any agreement between the district and the system, the principal purpose of which is to provide passenger rail service, must include the following provisions:

(1)That the replacement of capital assets employed in the provision of passenger service will be provided for prudently.

(2)That the methods of conducting and accounting for financial transactions between parties to agreements will be compatible with the fiduciary responsibilities of the district and the purposes of this chapter and follows generally accepted accounting principles.

(3)That the system shall maintain complete and accurate books and records, permit reasonable access by the district and its duly authorized representatives to the books and records of the system, and permit the district or its representatives, at reason

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Any agreement between the district and the
system, the principal purpose of which is to provide passenger rail
service, must include the following provisions:
(1) That the replacement of capital assets employed in the
provision of passenger service will be provided for prudently.
(2) That the methods of conducting and accounting for financial
transactions between parties to agreements will be compatible
with the fiduciary responsibilities of the district and the purposes
of this chapter and follows generally accepted accounting
principles.
(3) That the system shall maintain complete and accurate books
and records, permit reasonable access by the district and its duly
authorized representatives to the books and records of the system,
and permit the district or its representatives, at reasonable times
and subject to reasonable confidentiality restrictions, to inspect
the properties and operations of the system.
(4) That the system shall also provide:
(A) system performance information, which will permit an
assessment of passenger service in general and service levels in
particular;
(B) information concerning the operation and administration of
the passenger rail service;
(C) a projection of significant operational and administrative
changes scheduled to take place in the enusing fiscal year;
(D) a projection of capital expenditures scheduled to be
undertaken by the system in the ensuing fiscal year; and
(E) a list of capital improvements that the system requests that
the district undertake in the ensuing five (5) years.
(5) That a marketing study shall be undertaken no less frequently
than every three (3) years. The study may be undertaken jointly by
the system and the district. The study must measure and evaluate
passenger attitudes and requirements concerning service levels,
service quality, fares, and opportunities to improve service or to
increase ridership.
(6) That the passenger service deficit will not exceed an agreed
amount (with an allowance agreed to by the parties for variable
expenses) during the term of the agreement.

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