Sec. 9. (a) Just and equitable rates and charges are those that:
(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;
(2) produce sufficient revenue to provide the sinking fund for the liquidation of bonds or other evidence of indebtedness and reserves against default in the payment of interest and principal of bonds;
(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.
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