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(A) The acquisition, construction, installation, operation, and maintenance of facilities and land for stormwater drainage systems may be financed through:
(1) Proceeds of special taxing district bonds of the stormwater district;
(2) The assumption of liability incurred to construct the stormwater system being acquired;
(3) Service rates;
(4) Revenue bonds; or
(5) Any other available funds.
(B) The Board, after approval by the town Council, may assess and collect a user’s fee from all of the owners of property within the stormwater drainage district for the operation and maintenance of the stormwater system.
(Ord. 560, passed 9-1-92)
(A) The Board may fix and set aside:
(1) Revenues of the Department necessary for reasonable and proper operation and maintenance;
(2) Revenues for a proper and adequate depreciation account; and
(3) Revenues to be applied to the payment of the principal and interest of the authorized bonds.
(B) The Board shall consider the cost of the operation and maintenance of the Department when establishing and fixing the revenues required for operation and maintenance.
(C) In the event a surplus is accumulated in the operating and maintenance account, the Board may transfer any excess over that surplus to:
(1) The depreciation account, to be used for any improvements, extensions, or additions to the stormwater system; or
(2) The bond and interest redemption account.
(D) The revenues set aside to the depreciation account shall be expended for:
(1) The repair of the stormwater system;
(2) New acquisition, construction, extensions, or additions to the property of the stormwater system; or
(3) Transfer to the bond and interest redemption account to prevent a default.
(E) 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”.
(F) 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 the principal of the bonds maturing and becoming payable in each year.
(G) In the event 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.
(Ord. 560, passed 9-1-92)
(A) Taxing district.
(1) This subchapter creates a special taxing district, including all territory within the municipal corporate boundaries of the town, for the purpose of providing for the collection and disposal of stormwater of the district in a manner that protects the public health and welfare and for the purpose of levying special benefit taxes for purposes of stormwater collection and disposal.
(2) Any area added to the district hereunder is considered to have received a special benefit from the stormwater collection and disposal facilities of the district equal to or greater than the special taxes imposed on the area by this subchapter or any other authority or legislative act in order to pay all or part of the costs of such facilities.
(B) Municipal assessment.
(1) The reasonable cost and value of any service rendered to the town by the stormwater system by furnishing stormwater collection and disposal shall be:
(a) Charged against the town; and
(b) Paid for in monthly installments as the service accrues out of the:
1. Current revenues of the town, collected or in process of collection; and
2. Tax levy of the town made by it to raise money to meet its necessary current expenses.
(2) Compensation for the service provided to the town shall, in the manner prescribed herein, be treated as revenues of the system and paid into the funds created under this subchapter.
(C) Bonding.
(1) The Board shall have the power to issue and sell bonds of the district in the name of the town for the acquisition, construction, alteration, addition, or extension of the stormwater collection and disposal system or for the refunding of any bonds issued by the town.
(2) The bonds of the district are:
(a) A valid claim of the holders only against the bond and interest redemption account and the revenues of the stormwater system;
(b) Exempt from taxation in the state as provided IC 6-8-5, as amended from time to time;
(c) Bonds which may be issued either as registered bonds or as coupon bonds payable to the bearer;
(d) Except as provided in this subchapter or IC 5-1-3, as amended from time to time, bonds which are to be in accordance with IC 5-1-11, as amended from time to time. The registration of bonds does not affect negotiability.
(3) All monies received from bonds issued under this subchapter shall be applied solely to the acquisition, construction, repair, and maintenance of the stormwater system, the cost of the issuance of the bonds, and the creation of any reserve for the bonds.
(4) Any holder of the bonds may bring a civil action to compel performance of all duties required by this subchapter of the Board issuing the bonds or of any officer of the Board, including the following:
(a) Making and collecting reasonable and sufficient user fees lawfully established for service rendered by the stormwater system.
(b) Segregating the income and revenues of the Department.
(c) Applying the respective funds created under this subchapter.
(5) In the event there is any default in the payment of the principal or interest of any of the bonds, a court of competent jurisdiction may:
(a) Appoint an administrator or receiver to administer
the stormwater system on behalf of the town and the bondholders, with power to:
1. Charge and collect user fees lawfully established sufficient to provide for the payment of the operating expenses and also to pay any bonds or obligations outstanding against the stormwater system; and
2. Apply the income and revenues in conformity with the provisions of this subchapter.
(b) Declare the whole amount of the bonds due and payable and direct the sale of the stormwater system.
(D) Taxing district bonds.
(1) In order to procure money to pay for the required property and the acquisition, erection, and construction of the proposed work, and in anticipation of the collection of the special benefit tax, the Board may issue, in the name of the town, special taxing district bonds of the stormwater district. The bonds may not exceed the total estimated cost of the work and property to be acquired as provided for in the resolution, including:
(a) All expenses necessarily incurred for supervision and inspection during the period of construction; and
(b) Expenses actually incurred preliminary to the acquiring of the necessary property, and the construction of the work, including the cost of records, engineering expenses, publication of notices, salaries and other expenses incurred, before and in connection with the acquiring of the property, the letting of the contract, and the sale of bonds.
(2) After adopting a resolution authorizing the bands, the Board shall certify a copy of the resolution to the Clerk-Treasurer, who shall then prepare the bonds. The Town Council, by its designated representative, shall execute the bonds, and the Clerk-Treasurer shall attest the bonds.
(3) The Board may not issue bonds of the stormwater district, payable by a special benefit property tax, when the total of the outstanding bonds of the district that are payable from a special benefit property tax, including the bonds already issued and to be issued, exceeds 8% of the total assessed valuation, after deducting all exemptions, of the property within the district. For purposes of this section, bonds are not considered to be outstanding bonds if the payment has been provided for by an irrevocable deposit in escrow of government obligations sufficient to pay the bonds when due or called for redemption.
(4) The bonds are not a corporate obligation or indebtedness of the town but are an indebtedness of the stormwater district. The bonds and interest are payable:
(a) Out of a special benefit tax levied upon all of the property of the stormwater district; or
(b) By any other means including revenues, cash on hand, and cash in depreciation or reserve accounts.
(5) The bonds must recite the terms upon their face, together with the purpose for which they are issued.
(6) In order to raise the necessary revenues to pay for the bonds issued and the interest on the bonds, the Board:
(a) After approval by the town Council, shall levy a special benefit tax upon all the property of the stormwater district in the amount necessary to meet and pay the principal of the bonds as they severally mature, together with all accruing interest; and
(b) Shall certify the tax levied each year to the fiscal officers of the town and of the county, at the same time the levy of the town is certified.
(7) The tax levied and certified shall be estimated and entered upon the tax duplicate and shall be collected and enforced in the same manner as state and county taxes are estimated, entered and enforced.
(8) In fixing the amount of the necessary levy, the Board:
(a) Shall consider the amount of the revenues derived by the Board from the operation of the stormwater system under its jurisdiction above the amount of revenues required to pay the cost of operation and maintenance of the stormwater system; and
(b) May, in lieu of making the levy as described in this section, set aside by resolution a specific amount of the surplus revenues to be collected before maturity of the principal and interest of the bonds payable in the following calendar year.
(9) The special tax collected shall be deposited in the bond and interest redemption account.
(10) The Board may not issue any bonds authorized by this subchapter until it has secured the approval for the issuance of the bonds from the Town Council.
(11) IC 6-1.1-20, as amended from time to time, applies to the issuance of bonds under this subchapter which are or may be payable from the special benefit property tax.
(12) Revenues received by the Department may be used to pay for bonds issued to acquire, construct, install, operate, and maintain facilities and land for stormwater collection and disposal systems.
(13) In the event 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 125% of the highest annual debt service on the bonds issued under this subchapter to their final maturity, based on an average of the immediately preceding three years of user fee collections. In the event the user fees have been levied for the preceding three years, the Board may not reduce user fees below a rate that would produce 125% of the highest debt service, based upon a study by a qualified public accountant or financial adviser.
(14) With respect to bonds for which a pledge has been made under division (D)(11) of this section, the Indiana General Assembly covenants with the holders of these bonds that:
(a) This statutory provision will not be repealed or amended in a manner that will adversely affect the imposition or collection of the user fees under this subchapter; and
(b) This statutory provision will not be amended in a manner that will change the purpose for which revenues from the user fees imposed under this subchapter may be used, as long as those bonds are outstanding.
(Ord. 560, passed 9-1-92)
(A) The Board may investigate and make the following findings:
(1) The stormwater system is insufficient to furnish the necessary collection and disposal of stormwater to properly protect the public health and welfare and safeguard the property within the district; and
(2) It is necessary to acquire, construct, rebuild, repair, extend, and improve the stormwater system and equipment; to acquire lands; or to construct, erect, or acquire other systems and other structures and equipment appurtenant to them;
(B) Upon making findings set forth in division (A) of this section, the Board shall prepare maps, plans, specifications, and drawings with full details and descriptions for the proposed work, together with an estimate of the cost. The Board shall also prepare a description of all property rights necessary to be acquired in connection with the proposed work and the manner in which the rights are to be acquired, whether by purchase or appropriation, along with a description of any other property that may be injuriously affected, together with the estimated cost.
(C) Upon completion of the aforesaid requirements, the Board shall then adopt a resolution approving the project by:
(1) Declaring that the project is necessary for the protection of the public health and welfare of the inhabitants and
residents of the stormwater district and for the safeguarding of the property within the district;
(2) Declaring that the project is of public utility and benefit;
(3) Appropriating the property described in the resolution;
(4) Stating the maximum proposed cost of any land to be purchased; and
(5) Adopting plans, maps, specifications, drawings, details, descriptions, and estimates.
(D) In the event a resolution as described above is adopted, the Board shall publish a notice in accordance with IC 5-3-1, as amended from time to time, of the adoption of the resolution and of the fact that plans, specifications, and estimates have been prepared and can be inspected. The notice must also name a date, not less than ten days after the date of the last publication, when the Board will receive or hear remonstrances from the persons interested in or affected by the resolution, and when it will determine the public utility and benefit of the project. Notice shall be mailed to the owners of all property appropriated by the resolution. In the event a landowner is a nonresident and the landowner’s place of residence is known, a notice shall be mailed to the nonresident owner. In the event the nonresident owner’s residence is unknown to the Board, then the owner is considered notified of the pendency of the proceedings by the publication of notice.
(E) Separate descriptions of each piece or parcel of land are not required in the resolution and notice, but it is a sufficient description of the property purchased or to be purchased, or to be appropriated or damaged, to give a description of the entire tract, whether it is one or more lots or parcels, and whether it is owned by one or more persons.
(F) All persons affected by the proceedings, including all taxpayers in the stormwater district, are considered to be notified of the proceedings and all subsequent acts, hearings, adjournments, and orders of the Board by the original publication of notice.
(G) The Board may, before adoption of the resolution, obtain from the owners of the property an option for its purchase, or may enter into a contract or agreement for its purchase after an appraisal by two qualified land appraisers. An option or contract is subject to the final action of the Board confirming, modifying, or rescinding the resolution.
(Ord. 560, passed 9-1-92)
(A) At the time fixed for the hearing, or before the hearing, the following persons may file a written remonstrance with the Board:
(1) The owner of real property, rights-of-way, or other property to be appropriated under the resolution;
(2) A person injuriously affected by the appropriation.
(3) A person owning real or personal property within the stormwater district.
(B) At the time of the hearing, the Board shall:
(1) Hear all persons interested in the proceedings;
(2) Hear all the remonstrances that have been filed; and
(3) Take action to confirm, modify, or reject the resolution.
(C) Any person who has remonstrated in writing and is aggrieved by the decision of the Board may, within 30 days, take an appeal to the circuit or superior courts of the county in which the stormwater district is located.
(D) A remonstrator desiring to appeal the action of the Board shall, within 30 days after the final action of the Board, file in the office of the clerk of the circuit or superior courts, a copy of the order of the Board, and the remonstrance, together with a bond conditioned to pay the costs of the appeal, should the appeal be determined against the remonstrator.
(E) A court may hear the appeal only if the issue is whether the Board acted arbitrarily or capriciously in adopting the resolution.
(F) The cause shall be tried by the court without a jury.
(G) All remonstrances upon which appeals are taken may be consolidated and heard as one claim for relief by the court.
(Ord. 560, passed 9-1-92)
(A) In the event the Board acquires a stormwater system and assumes the liability incurred by the seller to construct the stormwater system, the principal and interest on the liability so assumed shall be paid from the bond and interest redemption account in the same manner as bonds of the district would be paid, and the Board shall set aside sufficient revenues to comply with the requirements of the instrument creating the liability.
(B) The town, in acquiring a stormwater system, may not assume any liability for the payment of a secured debt or charge other than the obligation to apply the revenues in the manner prescribed in this subchapter. The Board may issue bonds in exchange for, or satisfaction of, the liability assumed in the acquisition of a stormwater system. The bonds so issued may not be issued thereof in exchange for, or
satisfaction of, the liability. Notwithstanding other provisions and terms of this subchapter, bonds issued in exchange for, or in satisfaction of, the liability need not be sold in accordance with IC 5-1-11, as amended from time to time. However, the interest rate on such bonds may not exceed the average yield on municipal revenue bonds of comparable credit rating and maturity as of the end of the week immediately preceding the issuance of the bonds.
(C) In the event the Board acquires a stormwater system and pays for it and for extensions and betterments authorized at the time of acquisition, it may provide for the combined costs in one issue of bonds. The Board shall issue and secure the bonds in the manner provided in this subchapter to provide funds for the original construction of a stormwater system.
(Ord. 560, passed 9-1-92)
(A) Whenever work on a stormwater system that is combined with a sanitary sewer system necessitates the repair or replacement of all or part of a sanitary sewer system, the entity that owns or maintains the sanitary sewer system shall assume a proportionate share of the cost of repairing or replacing the sanitary sewer system.
(B) The Board and the entity that owns or manages the sanitary sewer system shall negotiate the division of the costs described in division (A) above.
(C) In the event the parties cannot agree to a division of the costs, they shall petition the circuit or superior courts of the county where the majority of the systems are located to divide the costs. The court shall hold a hearing on the division of costs within 60 days after receiving the petition. The court shall publish notice of the hearing in accordance with IC 5-3-1, as amended from time to time. The decision of the court shall be binding on both parties.
(Ord. 560, passed 9-1-92)
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