Sec. 2. (a) The definitions in this section apply throughout this chapter.

(b) "Bonds" means electric utility revenue bonds, notes, and other evidences of indebtedness of a municipality or a joint agency issued under the provisions of this chapter.

(c) "Cost" or "cost of a project" means but may not be limited to the cost of acquisition, construction, reconstruction, improvement, enlargement, betterment, extension, decommissioning, or disposal of any project or part thereof, including:

(1) the cost of studies, plans, specifications, surveys, and estimates of costs and revenues relating thereto;

(2) the cost of land, land rights, rights-of-way and easements, water rights, fees, permits, approvals, licenses, certificates, franchises, and the preparation of applications thereof;

(3) administrative, legal, engineering, and inspection expenses;

(4) financing fees, expenses, and costs;

(5) working capital;

(6) initial fuel costs;

(7) interest on the bonds during the period of construction and for such reasonable period thereafter as may be determined by the issuing municipality or joint agency;

(8) establishment of reserves for the payment of debt service, for renewals and replacements, for working capital, for operating expenses, and for any other purposes deemed reasonable and proper; and

(9) all other expenditures of the issuing municipality or joint agency incidental, necessary, or convenient to the acquisition, construction, reconstruction, improvement, enlargement, betterment, extension, decommissioning, or disposal of any project and the placing of the same in operation.

(d) "Governing body" means the legislative body of a city or town or commissioners of a joint agency.

(e) "Joint agency" means an agency created by two (2) or more municipalities pursuant to section 8 of this chapter.

(f) "Municipality" means:

(1) a city or town in Indiana, or any board, agency, or commission of a city or town in Indiana, owning and operating on January 1, 1980, an electric utility that furnishes retail electric service to the public; or

(2) a city or town outside Indiana, or any board, agency, or commission of a city or town outside Indiana, owning and operating an electric utility that furnishes retail electric service to the public.

(g) "Project" means any plant, works, system, or facilities, and other real and personal property of any nature whatsoever necessary or convenient in the generation, transmission, transformation, purchase, sale, exchange, or interchange of electric power and energy or steam, or the development, production, manufacture, procurement, handling, storage, fabrication, enrichment, processing, or reprocessing of fuel of any kind or any facility or rights with respect to the supply of water, by any means whatsoever or any interest therein or any rights to the use, output, or capacity thereof. A transmission contract entered into under section 9(a)(14) of this chapter is not a project.

(h) "Public utility" means any corporation, company, limited liability company, partnership, or other form of legal entity, individual, association of individuals, or public agency organized under the laws of Indiana or another state of the United States authorized to own, operate, or control any plant or equipment for the generation, transmission, or distribution of electric power and energy and to sell electric power and energy to:

(1) the public;

(2) public or municipally owned utilities (as defined in IC 8-1-2); or

(3) cooperatives.

(i) "State" means the state of Indiana.

As added by Acts 1980, P.L.68, SEC.1. Amended by P.L.23-1988, SEC.29; P.L.82-1988, SEC.1; P.L.8-1989, SEC.39; P.L.179-1991, SEC.12; P.L.1-1992, SEC.29; P.L.54-1992, SEC.2; P.L.1-1993, SEC.48; P.L.81-1997, SEC.2; P.L.36-2017, SEC.1.