State Codes and Statutes

Statutes > Connecticut > Title7 > Chap102 > Sec7-237

      Sec. 7-237. Sinking fund. The legislative body shall provide for the establishment, from the net revenues of such waterworks system, of a sinking fund for the payment of the bonds and interest thereon and any charges connected therewith, plus ten per cent of the amount required for such payment, as a safety margin. Any surplus from the bond proceeds over the cost of establishing the system shall be paid into said sinking fund.

      (1949 Rev., S. 756.)