Indiana Code 13-26-11-9. Just and equitable rates and charges; rates and charges unlawful if too low; when initial rates and charges are prima facie just and equitable; district authority examination
(1) produce sufficient revenue to pay all expenses incident to the operation of the works, including maintenance cost, operating charges, upkeep, repairs, and interest charges on bonds or other obligations;
Terms Used In Indiana Code 13-26-11-9
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(3) produce sufficient revenue to provide adequate money to be used as working capital, as well as money for making improvements, additions, extensions, and replacements; and
(4) give due consideration to the interests of the ratepayers.
(b) Rates and charges too low to meet the financial requirements described in subsection (a) are unlawful. The initial rates and charges established after notice and hearing under this article are prima facie just and equitable.
(c) Nothing in this section shall prohibit a district authority from examining the methodology or process by which rates and charges were derived.
[Pre-1996 Recodification Citation: 13-3-2-25(b).]
As added by P.L.1-1996, SEC.16. Amended by P.L.112-2016, SEC.23.