Sec. 25. (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.
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