(A) The town is no longer in need of the regulation of its water utility by the State Utility Regulatory Commission due to high and unnecessary costs, and time related delays for approval of rates, charges, and evidences of indebtedness and other matters.
(B) I.C. 8-1.5-3-9.1 grants certain state municipal and town utilities the power to remove themselves from the jurisdiction of the Commission for approval of rates, charges, and evidences of indebtedness by the adoption of an ordinance by the Town Council.
(C) The town wishes to remove its municipal water utility from the jurisdiction of the State Utility Regulatory Commission, hereinafter referred to as “Commission”.
(D) This section shall apply to the Town Municipal Water Utility.
(Prior Code, § XI.4)