Sec. 4. A capital asset management plan must include all of the following:
(1) A plan to annually review infrastructure needs of the water or wastewater treatment plant.
(2) A detailed engineering analysis of asset conditions and useful life, to be used to develop an infrastructure inspection, repair, and maintenance plan.
(3) An analysis of customer rates necessary to support the capital asset management plan, including emergency repairs.
(4) A certification that the water or wastewater treatment plant has:
(A) a certified operator;
(B) a corporate officer or system manager; and
(C) access to an engineer, either on staff or by contract.