13-1228.   Same; electricity rates; street lighting equipment and trafficsignal equipment.The board of public utilities shall fix reasonable rates for electricityfurnished to consumers which: (1) Will secure an income sufficient to payall salaries and wages of all officers and employees in such department;(2) will cover the cost of all materials and supplies used in the operation ofthe plant; (3) will cover the cost of all repairs; (4) will cover all miscellaneousexpenses; (5) will pay the principal of and the interest on all revenuebond indebtedness of the city incurred for the purpose of purchasing, improvingor extending theelectric-light plant and will provide a sinking fund sufficient to pay theprincipal of and interest on such indebtedness at maturity; and (6) will cover thecost of all repairs and renewals of the plant and all material used,together with a reasonable allowance for emergency and unforeseenexpenses. Upon direction of the city, the board shall install, repair, maintainand replace street lighting equipment and traffic signal equipment at areasonable cost determined by the city, and shall provide an adequate supplyof electricity to such street lights and traffic signals at a reasonablecost determined by the city. The city may fix special rates for electricityfurnished to the city for public purposes.

      History:   L. 1929, ch. 126, § 9; L. 1977, ch. 66, § 5; L. 1980,ch. 72, § 8; April 14.