Customers
Security Deposits
Generally, an applicant for water service will not be required to make a cash security deposit at the time of connection. However, a deposit will be required after you receive disconnect notices for two consecutive months, or after disconnection for nonpayment of bills.
If Indianapolis Water holds your deposit for more than 12 months, we will pay interest on the deposit at the rate of 6 percent per year or at such other rate as may be prescribed by the Indiana Utility Regulatory Commission. Your deposit, plus any interest, will be refunded automatically upon satisfactory payment for a period of either nine consecutive months or 10 out of 12 consecutive months, unless there were late payments for any two consecutive months.
Otherwise, upon termination of your service, we will apply your deposit, plus any accrued interest, to your unpaid balance. The excess, if any, of the deposit and interest over the unpaid balance will be returned to you.
