(A) The municipally owned utilities of the town shall be taken out of the jurisdiction of the Indiana Utility Regulatory Commission for the approval of rates and charges, and of the issuance of stocks, bonds, notes or other evidence of indebtedness.
(B) This section shall be in full force and effect upon proper statutory notice, passage, promulgation and publication as required by law.
(Ord. 560, passed 1-3-1989)