The rates and charges established for the services and facilities afforded by this system must be sufficient in each year to provide income and revenue adequate for the:
- (1) payment of the reasonable expense of operation and maintenance;
- (2) payment of the sums required to be paid into the sinking fund;
- (3) accumulation of reserves;
- (4) payment of rates, fees, and charges levied by a regional authority established pursuant to Title 75, chapter 6, part 3; and
- (5) payment of expenditures for depreciation and replacement of the system as determined necessary by the governing body or as covenanted in the ordinances and resolutions authorizing the outstanding bonds.
History: En. Sec. 3, Ch. 149, L. 1943; amd. Sec. 3, Ch. 98, L. 1955; R.C.M. 1947, 11-2219(part); amd. Sec. 3, Ch. 187, L. 2013.