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Sec. 16. (a) A nonprofit water utility may adopt a resolution approved by its board of directors under this section that reconstitutes the nonprofit water utility as a water authority to be named as provided in the resolution.
(b) A resolution adopted under this section must allow:
(1) the structure of the board of directors; and
(2) the rules governing the water authority;
to remain the same as those applicable to the nonprofit water utility.
(c) The water authority shall retain all its powers, privileges, rights, and exemptions as a nonprofit water utility under:
(1) its existing bylaws and articles; and
(2) all laws applicable to nonprofit water utilities and local water corporations, including powers granted under IC 32-24-4-1.
(d) Except as provided in subsection (g), a water authority constituted under this section is a political subdivision of the state.
(e) A copy of a resolution adopted under this section must be filed with the secretary of state. When the secretary of state receives a copy of a resolution under this subsection, the secretary of state shall dissolve the corporate status of the nonprofit water utility for purposes of state law.
(f) A water authority constituted under this section shall:
(1) remain obligated under any existing contracts or agreements; and
(2) remain obligated and assume the indebtedness;
of the nonprofit water utility.
(g) Notwithstanding any other law and subject to subsections (h) and (i), a water authority constituted under this section is subject only to the laws applicable to nonprofit water utilities and local water corporations and is not subject to the following:
(1) IC 5-3.
(2) IC 5-4-1.
(3) IC 5-11.
(4) IC 5-13.
(5) IC 5-14-1.5.
(6) IC 5-14-3.
(7) IC 5-22.
(8) IC 36-1-8.
(9) IC 36-1-10.
(10) IC 36-1-10.5.
(11) IC 36-1-11.
(12) IC 36-1-12.
(13) IC 36-1-15.
(h) A water authority constituted under this section is subject to IC 8-1.5-3-8 for purposes of setting rates and charges.
(i) For each fiscal or calendar year of a water authority constituted under this section that ends after December 31, 2006, the water authority:
(A) have an audit of its financial records performed by an independent certified public accounting firm; and
(B) keep the audit report on file at the water authority; and
(2) notwithstanding IC 5-11-1-9, is not subject to the following:
(A) Audit or examination by the state board of accounts.
(B) The examination guidelines and reporting requirements of the state board of accounts.
Cite this article: FindLaw.com - Indiana Code Title 13. Environment § 13-18-16-16 - last updated June 08, 2021 | https://codes.findlaw.com/in/title-13-environment/in-code-sect-13-18-16-16/
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