The city of Fishers and Hamilton Southeastern Utilities have entered into an agreement for the city to purchase a portion of the public utility for $90 million. HSE Utilities currently provides wastewater collection service for a portion of Fishers.
The city says it is making the acquisition so it has complete ownership over all sewer assets within the city.
“Due to strategic investments in our municipal utility and the expertise of our staff, the city is well prepared to consolidate the utilities and provide consistent service and support for all Fishers residents,” said Fishers Mayor Scott Fadness.
He says the city will be able to finance the purchase without increasing rates. Fadness says his administration will present a sewer revenue bond to the city council for approval. Fadness says the purchase will be paid for by the revenues generated by the utility.
HSE says it has filed a petition with the Indiana Utility Regulatory Commission seeking approval of the sale. If approved, the parties expect to close the transaction by the end of the year.
Click here to learn more about the transaction.