13-1228. Same; electricity rates; street lighting equipment and traffic signal equipment.
13-1228
13-1228. Same; electricity rates; street lighting equipment and traffic
signal equipment.
The board of public utilities shall fix reasonable rates for electricity
furnished to consumers which: (1) Will secure an income sufficient to pay
all 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 of
the plant; (3) will cover the cost of all repairs; (4) will cover all miscellaneous
expenses; (5) will pay the principal of and the interest on all revenue
bond indebtedness of the city incurred for the purpose of purchasing, improving
or extending the
electric-light plant and will provide a sinking fund sufficient to pay the
principal of and interest on such indebtedness at maturity; and (6) will cover the
cost of all repairs and renewals of the plant and all material used,
together with a reasonable allowance for emergency and unforeseen
expenses. Upon direction of the city, the board shall install, repair, maintain
and replace street lighting equipment and traffic signal equipment at a
reasonable cost determined by the city, and shall provide an adequate supply
of electricity to such street lights and traffic signals at a reasonable
cost determined by the city. The city may fix special rates for electricity
furnished to the city for public purposes.
History: L. 1929, ch. 126, § 9; L. 1977, ch. 66, § 5; L. 1980,
ch. 72, § 8; April 14.