28F.5 SOURCE OF PAYMENT -- RATES AND CHARGES, PLEDGE
OF REVENUES.
Such an entity shall have the power to pledge all or part of the
net revenues of a project or projects to the payment of the principal
of and interest on the bonds issued pursuant to this chapter and
shall provide by resolution authorizing the issuance of said bonds
that such net revenues of the project or projects shall be set apart
in a sinking fund for that purpose and kept separate and distinct
from all other revenues of the entity. The principal of and interest
on the bonds so issued shall be secured by a pledge of such net
revenues of the project or projects in the manner and to the extent
provided in the resolution authorizing the issuance of said bonds.
Such an entity shall have the power to fix, establish and maintain
such rates, tolls, fees, rentals or other charges and collect the
same from the public agencies participating in the agreement or from
private agencies or persons for the payment of the services and
facilities provided by said project or projects. Such rates, tolls,
fees, rentals or other charges shall be so fixed, established and
maintained and revised from time to time whenever necessary as will
always provide revenues sufficient to pay the cost of maintaining,
repairing and operating the project or projects, to pay the principal
of and interest on the bonds then outstanding which are payable
therefrom as the same become due and payable, to provide adequate and
sufficient reserves therefor, to provide for replacements,
depreciations and necessary extensions and enlargements and to
provide a margin of safety for the making of such payments and
providing such reserves. Notwithstanding the foregoing such an
entity shall have the further right to pledge to the payment of the
bonds issued pursuant to this chapter, in addition to the net
revenues of the project or projects pledged therefor, such other
moneys that it may have and which are lawfully available therefor.
In order to pay the rates, tolls, fees, rentals or other charges
levied against a public agency by an entity for the payment of the
services and facilities provided by a project or projects authorized
by this chapter, public agencies participating in such an agreement
shall have the power by ordinance to fix, establish and maintain,
rates or other charges for the use of and the services and facilities
rendered by said project or projects. Such rates or charges may be
so fixed, established and maintained and revised from time to time
whenever necessary as will always provide such public agencies with
sufficient revenue to pay the rates, tolls, fees, rentals or other
charges levied against it by the entity for the payments of the
services and facilities provided by said project or projects. All
such rates or charges to be paid by the owners of real property, if
not paid as by the ordinance provided, when due, shall constitute a
lien upon such real property served by such project or projects, and
shall be collected in the same manner as general taxes.
Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 28F.5]
Referred to in § 28F.6, 476A.27
28F.5 SOURCE OF PAYMENT -- RATES AND CHARGES, PLEDGE
OF REVENUES.
Such an entity shall have the power to pledge all or part of the
net revenues of a project or projects to the payment of the principal
of and interest on the bonds issued pursuant to this chapter and
shall provide by resolution authorizing the issuance of said bonds
that such net revenues of the project or projects shall be set apart
in a sinking fund for that purpose and kept separate and distinct
from all other revenues of the entity. The principal of and interest
on the bonds so issued shall be secured by a pledge of such net
revenues of the project or projects in the manner and to the extent
provided in the resolution authorizing the issuance of said bonds.
Such an entity shall have the power to fix, establish and maintain
such rates, tolls, fees, rentals or other charges and collect the
same from the public agencies participating in the agreement or from
private agencies or persons for the payment of the services and
facilities provided by said project or projects. Such rates, tolls,
fees, rentals or other charges shall be so fixed, established and
maintained and revised from time to time whenever necessary as will
always provide revenues sufficient to pay the cost of maintaining,
repairing and operating the project or projects, to pay the principal
of and interest on the bonds then outstanding which are payable
therefrom as the same become due and payable, to provide adequate and
sufficient reserves therefor, to provide for replacements,
depreciations and necessary extensions and enlargements and to
provide a margin of safety for the making of such payments and
providing such reserves. Notwithstanding the foregoing such an
entity shall have the further right to pledge to the payment of the
bonds issued pursuant to this chapter, in addition to the net
revenues of the project or projects pledged therefor, such other
moneys that it may have and which are lawfully available therefor.
In order to pay the rates, tolls, fees, rentals or other charges
levied against a public agency by an entity for the payment of the
services and facilities provided by a project or projects authorized
by this chapter, public agencies participating in such an agreement
shall have the power by ordinance to fix, establish and maintain,
rates or other charges for the use of and the services and facilities
rendered by said project or projects. Such rates or charges may be
so fixed, established and maintained and revised from time to time
whenever necessary as will always provide such public agencies with
sufficient revenue to pay the rates, tolls, fees, rentals or other
charges levied against it by the entity for the payments of the
services and facilities provided by said project or projects. All
such rates or charges to be paid by the owners of real property, if
not paid as by the ordinance provided, when due, shall constitute a
lien upon such real property served by such project or projects, and
shall be collected in the same manner as general taxes.
Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 28F.5]
Referred to in § 28F.6, 476A.27
28F.5 SOURCE OF PAYMENT -- RATES AND CHARGES, PLEDGE
OF REVENUES.
Such an entity shall have the power to pledge all or part of the
net revenues of a project or projects to the payment of the principal
of and interest on the bonds issued pursuant to this chapter and
shall provide by resolution authorizing the issuance of said bonds
that such net revenues of the project or projects shall be set apart
in a sinking fund for that purpose and kept separate and distinct
from all other revenues of the entity. The principal of and interest
on the bonds so issued shall be secured by a pledge of such net
revenues of the project or projects in the manner and to the extent
provided in the resolution authorizing the issuance of said bonds.
Such an entity shall have the power to fix, establish and maintain
such rates, tolls, fees, rentals or other charges and collect the
same from the public agencies participating in the agreement or from
private agencies or persons for the payment of the services and
facilities provided by said project or projects. Such rates, tolls,
fees, rentals or other charges shall be so fixed, established and
maintained and revised from time to time whenever necessary as will
always provide revenues sufficient to pay the cost of maintaining,
repairing and operating the project or projects, to pay the principal
of and interest on the bonds then outstanding which are payable
therefrom as the same become due and payable, to provide adequate and
sufficient reserves therefor, to provide for replacements,
depreciations and necessary extensions and enlargements and to
provide a margin of safety for the making of such payments and
providing such reserves. Notwithstanding the foregoing such an
entity shall have the further right to pledge to the payment of the
bonds issued pursuant to this chapter, in addition to the net
revenues of the project or projects pledged therefor, such other
moneys that it may have and which are lawfully available therefor.
In order to pay the rates, tolls, fees, rentals or other charges
levied against a public agency by an entity for the payment of the
services and facilities provided by a project or projects authorized
by this chapter, public agencies participating in such an agreement
shall have the power by ordinance to fix, establish and maintain,
rates or other charges for the use of and the services and facilities
rendered by said project or projects. Such rates or charges may be
so fixed, established and maintained and revised from time to time
whenever necessary as will always provide such public agencies with
sufficient revenue to pay the rates, tolls, fees, rentals or other
charges levied against it by the entity for the payments of the
services and facilities provided by said project or projects. All
such rates or charges to be paid by the owners of real property, if
not paid as by the ordinance provided, when due, shall constitute a
lien upon such real property served by such project or projects, and
shall be collected in the same manner as general taxes.
Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 28F.5]
Referred to in § 28F.6, 476A.27
