§ 42-36. Sufficiency of rates.

Latest version.

The water rates fixed by the council shall be fair and just, but shall be such that the revenue therefrom shall be sufficient to pay for the cost of maintenance, extension, operation and administration of the waterworks system, the cost of insurance against loss by injury to persons or property, and any other cost or expense growing out of or appertaining to the waterworks system, including interest on bonds. Such rates shall also be sufficient to pay, at or before maturity, annually, all bonds issued on account of the waterworks system and to provide a fair and proper return as provided by general law.

(Ord. No. 6233-06, § 1)

(Ord. No. 6233-06, § 1)

                    
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