(A) Adoption of state law. I.C. 8-1.5-5 is hereby adopted by the Town Council so as to make that chapter and all amendments thereto effective and operative as to the town.
(B) Special taxing district created; boundaries.
(1) Pursuant to I.C. 8-1.5-5-5, there is hereby created a special taxing district which shall include all of the territory within the corporate boundaries of the town.
(2) All area in the special taxing district and all area added to the district shall be 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 in order to pay all or part of the costs for such facilities.
(C) Establishment of Department of Stormwater Management. A Department of Stormwater Management is hereby established for the town for the purposes of providing for the collection and disposal of stormwater of the special taxing district created above 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.
(D) Board of Directors.
(1) The Department of Stormwater Management shall be controlled by a Board of Directors consisting of three Directors.
(2) The terms of the Directors shall be staggered so that one of the Directors first appointed shall serve an initial term of one year, one of the Directors shall serve an initial term of two years, and one of the Directors shall serve an initial term of three years. Thereafter all Directors shall serve a term of three years. All directors shall be appointed by the President of the Town Council.
(3) The President of the Town Council may remove a Director at any time when, in the judgment of the President of the Town Council, it is in the best interest of the Department.
(4) The Board of Directors shall have exclusive jurisdiction over the collection and disposal of stormwater within the special taxing district.
(5) The Board of Directors shall have all of the powers provided under I.C. 8-1.5-5-6, which include, but are not limited to, the following:
(a) Hold hearing following public notice;
(b) Make findings and determinations;
(c) Install, maintain, and operate a stormwater collection and disposal system;
(d) Make all necessary or desirable improvements of the grounds and premises under its control; and
(e) 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 Board.
(E) Financing of facilities. The acquisition, construction, installation, operation, and maintenance of facilities and land for stormwater 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) Other available funds.
(F) User fees. The Board may assess and collect user fees, after approval by the Town Council, from all property of the stormwater district for the operation and maintenance of the stormwater system. The collection of the fees authorized by this section may be effectuated through a periodic billing system or through a charge appearing on the semi-annual property tax assessment of the affected property owner.
(G) Fixing and setting aside revenues.
(1) The Board may fix and set aside revenue as follows:
(a) As necessary for the reasonable and proper operation and maintenance of the department;
(b) For a proper and adequate depreciation account; and
(c) To be applied to the payment of the principal and interest of authorized bonds.
(2) If a surplus is accumulated in the operating and maintenance account, the Board may transfer any excess funds to:
(a) The depreciation account to be used for improvement, extensions, or additions to the stormwater system; or
(b) To a bond and interest redemption account.
(3) In all other matters, the Board shall comply with the provisions of I.C. 8-1.55 when managing the revenue of the department.
(Ord. 2004-06, passed 8-3-2004)
Statutory reference:
Special taxing district, I.C. 8-1.5-5-5