IC 8-1-11.2
Chapter 11.2. Purchase of Public Utility Property by Consolidated
City
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 the
whole or any part of the property of a public utility, when but only
when its city-county council by an ordinance signed and approved by
the mayor, and its board of trustees for utilities of its department of
public utilities by a resolution, have each determined and declared it
expedient so to do; which officials are hereby duly empowered so to
do; in which event such city may acquire such property,
notwithstanding a portion of it may be located anywhere outside of
the corporate limits of such city, for the price and upon the terms and
conditions stated in such ordinance and resolution, but not otherwise.
The power hereby conferred shall include the power to purchase the
capital stock of the corporation owning such property, or sufficient
of such stock to enable such city to cause the liquidation of such
corporation, payment of its debts, and vesting of title to its remaining
property in such city; and in the event of purchase of such stock,
such city, by its board of directors for utilities of its department of
public utilities, is empowered to vote such stock so as to cause the
liquidation of such corporation, the payment of its debts, and the
vesting of title to its remaining property in the city. Funds with which
to pay such purchase-price may be obtained from the sale of revenue
bonds issued and sold under the authority of IC 8-1-11.1 or under any
other 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 utility
property, the control and operation of such utility property shall be
in the board of directors for utilities of the department of public
utilities of such city under IC 8-1-11.1 or under any other statutes
relating to such matters; subject, however, to all valid terms and
conditions upon which such utility property shall have been so
purchased. 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 utility
service furnished it by the operation of utility property acquired
under this chapter except according to and by virtue of such
agreement, if any, as may be made therefor between the board of
directors for utilities of the department of public utilities of such city,
on the one part, and said city by its mayor, city controller, and board
of public works, on the other part.
As added by Acts 1981, P.L.11, SEC.44.
IC 8-1-11.2
Chapter 11.2. Purchase of Public Utility Property by Consolidated
City
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 the
whole or any part of the property of a public utility, when but only
when its city-county council by an ordinance signed and approved by
the mayor, and its board of trustees for utilities of its department of
public utilities by a resolution, have each determined and declared it
expedient so to do; which officials are hereby duly empowered so to
do; in which event such city may acquire such property,
notwithstanding a portion of it may be located anywhere outside of
the corporate limits of such city, for the price and upon the terms and
conditions stated in such ordinance and resolution, but not otherwise.
The power hereby conferred shall include the power to purchase the
capital stock of the corporation owning such property, or sufficient
of such stock to enable such city to cause the liquidation of such
corporation, payment of its debts, and vesting of title to its remaining
property in such city; and in the event of purchase of such stock,
such city, by its board of directors for utilities of its department of
public utilities, is empowered to vote such stock so as to cause the
liquidation of such corporation, the payment of its debts, and the
vesting of title to its remaining property in the city. Funds with which
to pay such purchase-price may be obtained from the sale of revenue
bonds issued and sold under the authority of IC 8-1-11.1 or under any
other 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 utility
property, the control and operation of such utility property shall be
in the board of directors for utilities of the department of public
utilities of such city under IC 8-1-11.1 or under any other statutes
relating to such matters; subject, however, to all valid terms and
conditions upon which such utility property shall have been so
purchased. 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 utility
service furnished it by the operation of utility property acquired
under this chapter except according to and by virtue of such
agreement, if any, as may be made therefor between the board of
directors for utilities of the department of public utilities of such city,
on the one part, and said city by its mayor, city controller, and board
of public works, on the other part.
As added by Acts 1981, P.L.11, SEC.44.
IC 8-1-11.2
Chapter 11.2. Purchase of Public Utility Property by Consolidated
City
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 the
whole or any part of the property of a public utility, when but only
when its city-county council by an ordinance signed and approved by
the mayor, and its board of trustees for utilities of its department of
public utilities by a resolution, have each determined and declared it
expedient so to do; which officials are hereby duly empowered so to
do; in which event such city may acquire such property,
notwithstanding a portion of it may be located anywhere outside of
the corporate limits of such city, for the price and upon the terms and
conditions stated in such ordinance and resolution, but not otherwise.
The power hereby conferred shall include the power to purchase the
capital stock of the corporation owning such property, or sufficient
of such stock to enable such city to cause the liquidation of such
corporation, payment of its debts, and vesting of title to its remaining
property in such city; and in the event of purchase of such stock,
such city, by its board of directors for utilities of its department of
public utilities, is empowered to vote such stock so as to cause the
liquidation of such corporation, the payment of its debts, and the
vesting of title to its remaining property in the city. Funds with which
to pay such purchase-price may be obtained from the sale of revenue
bonds issued and sold under the authority of IC 8-1-11.1 or under any
other 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 utility
property, the control and operation of such utility property shall be
in the board of directors for utilities of the department of public
utilities of such city under IC 8-1-11.1 or under any other statutes
relating to such matters; subject, however, to all valid terms and
conditions upon which such utility property shall have been so
purchased. 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 utility
service furnished it by the operation of utility property acquired
under this chapter except according to and by virtue of such
agreement, if any, as may be made therefor between the board of
directors for utilities of the department of public utilities of such city,
on the one part, and said city by its mayor, city controller, and board
of public works, on the other part.
As added by Acts 1981, P.L.11, SEC.44.
