Indiana Code 8-1-2-85. Municipally owned utilities; securities; fee for issuance
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Terms Used In Indiana Code 8-1-2-85
- Commission: as used in this chapter , means the commission created by IC 8-1-1-2. See Indiana Code 8-1-2-1
- Municipality: as used in this chapter , means any city or town of Indiana. See Indiana Code 8-1-2-1
- public utility: as used in this chapter , means every corporation, company, partnership, limited liability company, individual, association of individuals, their lessees, trustees, or receivers appointed by a court, that may own, operate, manage, or control any plant or equipment within the state for the:
Indiana Code 8-1-2-1
Sec. 85. The commission shall charge every municipality receiving permission from it to issue any bonds, notes, or other securities an amount equal to twenty-five cents ($.25) for each one hundred dollars ($100) for such bonds, notes, or other securities, but in no case shall the fee be less than one hundred dollars ($100). All of such fees assessed under this section shall be paid to the secretary of the commission within thirty (30) days of the receipt of the bond proceeds by the municipality and only if the bonds, notes, or other securities are issued. The fees collected by the secretary shall be paid into the state treasury and deposited in the commission public utility fund account established under IC 8-1-6, as if they were fees collected under IC 8-1-6.
Formerly: Acts 1913, c.76, s.96; Acts 1925, c.71, s.1; Acts 1947, c.317, s.1; Acts 1969, c.260, s.2. As amended by Acts 1982, P.L.74, SEC.2; P.L.23-1988, SEC.26; P.L.136-2018, SEC.50.