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Ind. Code § 8-1.5-4-6

Authority to set aside revenues for operation and maintenance, a depreciation account, and payment of bonds

As added by Acts 1982, P.L.74, SEC.1.

Sec. 6. The board may fix and set aside:

(1) the proportion of the revenues of the waterworks department necessary for reasonable and proper operation and maintenance;

(2) the proportion of the revenues for a proper and adequate depreciation account; and

(3) the fixed proportion of the revenues to be applied to the payment of the principal and interest of the authorized bonds.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.