§39-61  Rates, rentals, fees, andcharges; undertakings and loan programs to be self-sustaining.  (a)  Thedepartment issuing revenue bonds pursuant to this part shall impose, prescribe,and collect rates, rentals, fees, or charges for the use and services of, andthe facilities and commodities furnished by, the undertaking or for the use andservices and benefits of the loan program for which the revenue bonds areissued, and shall revise the rates, rentals, fees, or charges from time to timewhenever necessary, so that, together with the proceeds of the user taxesderived with respect to the undertaking pledged to the payment of those revenuebonds, the undertaking or loan program shall be and always remainself-sustaining.  The rates, rentals, fees, or charges imposed and prescribedshall produce revenue which, together with the proceeds of the user taxes, willbe at least sufficient:

(1)  To make the required payments of the principal ofand interest on all revenue bonds issued for the undertaking or loan program,including the payment of all revenue bonds and interest thereon for the paymentof which the revenue, or user taxes, or combination of both, are or shall havebeen pledged, charged or otherwise encumbered, or which are otherwise payablefrom the revenue or user taxes, or combination of both, or are payable from aspecial fund maintained, or to be maintained, from the revenue or user taxes,or combination of both, including reserves therefor, and to maintain thespecial fund in an amount at least sufficient to pay when due all revenue bondsand interest thereon which are payable from the special fund, includingreserves therefor;

(2)  To pay the cost of operation, maintenance, andrepair of the undertaking, or to pay the cost of the administration, operation,and maintenance of the loan program, including reserves therefor; and

(3)  To carry out the covenants of the resolution orresolutions or certificate or certificates authorizing the issuance of therevenue bonds, including any covenants approved by the governor as to theminimum amounts of revenue to be produced by the undertaking or loan programfor which the revenue bonds are issued.

(b)  The legislature hereby covenants, pledges,and obligates itself, whenever it shall have authorized the issuance for anundertaking or loan program of revenue bonds payable from and secured by theuser taxes derived with respect to the undertaking, or payable from and securedby user taxes and the revenue, or any combination of both, of the undertakingor loan program to impose, or continue to impose, user taxes with respect tothe undertaking in amounts at least sufficient, together with the revenue ofthe undertaking or loan program pledged to the payment and security, so thatthe undertaking or loan program shall be and always remain self-sustaining, andall payments referred to in subsection (a), including reserves therefor, may bemade when due, and that compliance with any covenants referred to in theprovisions is assured. [L 1988, c 28, pt of §3]