13-1242. Same; payment; rates and charges; sinking fund.
13-1242
13-1242. Same; payment; rates and charges; sinking fund.
Provision shall be made by the governing body of such city for the
payment of said bonds, by fixing rates and charges for the use of and the
services to be rendered by such property and facilities, which rates and
charges so fixed shall be sufficient to pay all expenses of the city in
connection therewith and cover the cost of operation and repairs, pay all
interest charges upon all indebtedness created for the purpose of
improving, constructing, reconstructing, repairing or improving of such
public levee and the improvements and facilities thereon for which such
revenue bonds were issued to so improve, construct, reconstruct or repair
and to provide a sinking fund sufficient to pay off such indebtedness at
maturity.
History: L. 1933, ch. 43, § 5 (Special Session); Nov. 21.