IC 8-1-11.2
    Chapter 11.2. Purchase of Public Utility Property by ConsolidatedCity

IC 8-1-11.2-1
Power to purchase; ordinance requirement; price; revenue bonds
    Sec. 1. Any consolidated city shall have the power to purchase thewhole or any part of the property of a public utility, when but onlywhen its city-county council by an ordinance signed and approved bythe mayor, and its board of trustees for utilities of its department ofpublic utilities by a resolution, have each determined and declared itexpedient so to do; which officials are hereby duly empowered so todo; in which event such city may acquire such property,notwithstanding a portion of it may be located anywhere outside ofthe corporate limits of such city, for the price and upon the terms andconditions stated in such ordinance and resolution, but not otherwise.The power hereby conferred shall include the power to purchase thecapital stock of the corporation owning such property, or sufficientof such stock to enable such city to cause the liquidation of suchcorporation, payment of its debts, and vesting of title to its remainingproperty in such city; and in the event of purchase of such stock,such city, by its board of directors for utilities of its department ofpublic utilities, is empowered to vote such stock so as to cause theliquidation of such corporation, the payment of its debts, and thevesting of title to its remaining property in the city. Funds with whichto pay such purchase-price may be obtained from the sale of revenuebonds issued and sold under the authority of IC 8-1-11.1 or under anyother statute relevant thereto.
As added by Acts 1981, P.L.11, SEC.44.

IC 8-1-11.2-2
Control and operation of acquired utility
    Sec. 2. When any consolidated city shall have thus acquired utilityproperty, the control and operation of such utility property shall bein the board of directors for utilities of the department of publicutilities of such city under IC 8-1-11.1 or under any other statutesrelating to such matters; subject, however, to all valid terms andconditions upon which such utility property shall have been sopurchased.
As added by Acts 1981, P.L.11, SEC.44.

IC 8-1-11.2-3
Utility service furnished city; payment
    Sec. 3. Such city shall not be obligated to pay for any utilityservice furnished it by the operation of utility property acquiredunder this chapter except according to and by virtue of suchagreement, if any, as may be made therefor between the board ofdirectors for utilities of the department of public utilities of such city,on the one part, and said city by its mayor, city controller, and boardof public works, on the other part.As added by Acts 1981, P.L.11, SEC.44.