Sec. 10. (a) The revenues set aside for the payment of the principal and interest of the authorized bonds shall be deposited and credited to a special account identified as "the bond and interest redemption account".
(b) In determining the amount that is to be set aside for the payment of the principal and interest of the authorized bonds, the board may provide that the amount to be set aside and paid into the bond and interest redemption account for any year or years should not exceed a fixed sum, which must be at least sufficient to provide for the payment of the interest and principal of the bonds maturing and becoming payable in each year.
(c) If a surplus is created in the bond and interest redemption account, the board may transfer any excess over the surplus to:
(1) the operation and maintenance account; or
(2) the depreciation account.
As added by P.L.125-1987, SEC.1.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1.5. Municipal Utilities
Chapter 5. Department of Storm Water Management
8-1.5-5-1. Application of Chapter
8-1.5-5-3. "Department" Defined
8-1.5-5-3.5. "District" Defined
8-1.5-5-4. Board of Storm Water Management; Directors
8-1.5-5-4.5. County Department of Storm Water Management; Board of Directors; Compensation
8-1.5-5-5. Special Taxing District
8-1.5-5-7. Financing of Facilities; User Fees
8-1.5-5-8. Fixing and Setting Aside Revenues
8-1.5-5-9. Maintenance Account; Surplus
8-1.5-5-10. Bond and Interest Redemption Account; Surplus
8-1.5-5-11. Depreciation Account; Use of Revenues
8-1.5-5-12. Assumption and Payment of Liability Upon Acquisition of Storm Water System
8-1.5-5-13. District Bonds; Nature
8-1.5-5-15. Use of Bond Proceeds; Actions to Compel Performance; Actions Upon Default
8-1.5-5-16. Charge for Services in a Municipality; Deposit of Funds
8-1.5-5-16.5. Charge for Services in a County; Deposit of Funds
8-1.5-5-20. Property Held in Name of Unit Served by the Department
8-1.5-5-21. Bonds for Proposed Work Projects
8-1.5-5-22. Special Benefit Tax
8-1.5-5-23. Approval of Bond Issuance by Unit Served by the Department; Applicability of Ic 6-1.1-20
8-1.5-5-24. Combined Sanitary Sewer and Storm Water System Projects
8-1.5-5-25. Use of Bond Payment Revenues; Pledge of User Fees; Reductions in Fees
8-1.5-5-26. User Fee Pledges; Effect of Amendments or Repeal of Chapter
8-1.5-5-27. Maintenance of Private Property by the Department
8-1.5-5-28. Screening of Storm Water Outfalls
8-1.5-5-29. Liens for Unpaid Fees
8-1.5-5-30. Collection of Unpaid Fees; Recording of Liens; Fees, Charges, and Penalties