Sec. 34. (a) Whenever:
(1) all that is due:
(A) upon the bonds, notes, or other evidences of indebtedness payable from revenues, including interest; and
(B) upon other notes, bonds, or other obligations, including interest, having a charge, lien, or encumbrance on the revenues of the water facilities;
under the terms of covenants or agreements with the holders have been paid or deposited as provided; and
(2) all defaults have been cured;
the court may, after notice and hearing that the court considers reasonable and proper, direct the receiver to surrender possession of the facilities to the board.
(b) The same right of the holders of the bonds, notes, or other evidences of indebtedness to secure the appointment of a receiver exists upon a subsequent default as provided in this chapter.
[Pre-1995 Recodification Citation: 13-3-4-13(c).]
As added by P.L.1-1995, SEC.26.
Structure Indiana Code
Title 14. Natural and Cultural Resources
Article 33. Conservancy Districts
Chapter 20. Water Supply Systems
14-33-20-1. Applicability of Chapter
14-33-20-2. "Commission" Defined
14-33-20-3. "Water Facilities" and "Water Supply" Defined
14-33-20-4. District Electing to Furnish Water Supply for Domestic, Industrial, and Public Use
14-33-20-5. District as Legal Entity
14-33-20-6. Territorial Authority
14-33-20-7. Supplying Water Outside Territorial Authority
14-33-20-8. Commission Setting Hearing; Notice
14-33-20-10. Commission's Findings After Hearing
14-33-20-11. Municipality or Public Utility Supplying Water
14-33-20-13. Reasonable and Just Charges for Services; Rates
14-33-20-14. Schedule of Rates and Charges; Regulation
14-33-20-15. "Net Revenues" Defined
14-33-20-16. Resolution Authorizing Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-17. Requirements for Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-20. Recital of Authority of Bond, Note, or Other Evidence of Indebtedness
14-33-20-21. Sale of Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-22. Bonds, Notes, or Other Evidences of Indebtedness Equally and Ratably Secured by Lien
14-33-20-23. Constitutionally Restricted Bonds or Debts Not Authorized
14-33-20-24. Restrictions on Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-26. District Borrowing Money
14-33-20-28. Security of Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-29. Provisions Compromising Parts of Bonds, Notes, or Evidences of Indebtedness
14-33-20-30. Application for Appointment of Receiver of Water Facilities
14-33-20-31. Appointment of Receiver of Water Facilities
14-33-20-32. Receiver Taking Possession of Water Facilities
14-33-20-33. Duties of Receiver
14-33-20-34. Surrender of Possession of Water Facilities by Receiver
14-33-20-35. Court Supervision of Receiver
14-33-20-36. Protection of Holders or Trustees