Sec. 16. (a) This section applies to a municipality.

     (b) The reasonable cost and value of any service rendered to the municipality by the storm water system by furnishing storm water collection and disposal shall be:

(1) charged against the municipality; and

(2) paid for as the service accrues out of:

(A) the current revenues of the municipality, collected or in process of collection; or

(B) the tax levy of the municipality made by it to raise money to meet its necessary current expenses.

     (c) The compensation for the service provided to the municipality shall, in the manner prescribed by this chapter, be treated as revenues of the system and paid into the funds created under this chapter.

As added by P.L.125-1987, SEC.1. Amended by P.L.282-2003, SEC.13.