Authority to Set Aside Revenues for Operation and Maintenance, a Depreciation Account, and Payment of Bonds

  1. Law
  2. Indiana Code
  3. Utilities and Transportation
  4. Municipal Utilities
  5. Department of Waterworks in Certain Municipalities
  6. Authority to Set Aside Revenues for Operation and Maintenance, a Depreciation Account, and Payment of Bonds

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Sec. 6. The board may fix and set aside:

(1) the proportion of the revenues of the waterworks department necessary for reasonable and proper operation and maintenance;

(2) the proportion of the revenues for a proper and adequate depreciation account; and

(3) the fixed proportion of the revenues to be applied to the payment of the principal and interest of the authorized bonds.

As added by Acts 1982, P.L.74, SEC.1.


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