(A) The Town Council, pursuant to I.C. 8-1.5-3-3(a)(2), hereby establishes the town water utility. In support of this section, the Town Council states as follows.
(1) I.C. 36-9-2-14 states that “A unit may regulate the furnishing of water to the public. A unit also may establish, maintain and operate waterworks.”
(2) I.C. 8-1.5-3-3 states that “The legislative body of a municipality may, by ordinance, provide for the control of any or all of its municipally owned utilities by a board consisting of the members of the municipal legislative body.”
(B) The town, in Ord. W-3, adopted a schedule of rates and charges for the services to be rendered by said waterworks upon the completion of construction of the same and the beginning of operation of said waterworks as a municipal utility, which rates and charges must be sufficient to enable the town properly to operate the waterworks system, provide for depreciation and finance the construction of said system.
(C) Pursuant to § 51.01, the town, on June 7, 1994, adopted an ordinance which states in part: the town’s water utility be removed from the jurisdiction of the State Utility Regulatory Commission for approval of rates and charges and of the issuance of stocks, bonds, notes or other evidence of indebtedness.
(Ord. 2010-T-001, passed 2-8-2010)