If district bonds payable wholly from revenue are issued, the board shall set and revise the rates, fees, and charges assessed for water sold and waste collection and treatment services provided by the district. The rates, fees, and charges must be sufficient to:

1. (1) pay the expense of operating and maintaining the district facilities that generate the revenue from which the bonds will be paid;
2. (2) pay the principal of and interest on the bonds when due; and
3. (3) maintain the reserve fund and other funds as provided in the resolution authorizing the bonds.

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.