13-2405.   Fixing water rates; basis.Said board of commissioners shall fix such rates for water furnished toconsumers as will secure an income sufficient to pay all salaries and wagesof all officers and employees in such department; to cover allmiscellaneous expenses; to pay all interest charges upon all indebtednessof the city created for the purpose of purchasing, improving or extendingthe waterworks, and to provide a sinking fund of not less than two percentper annum upon such gross indebtedness for the purpose of paying off suchindebtedness at maturity; to cover the cost of all repairs, renewals,betterments and extensions of the waterworks and all material used; tocover the depreciation of the plant by use and by improvement in the arts;to repair all losses of the waterworks caused by accident of every kind andto recoup the city for loss of taxes due to city ownership.

      History:   L. 1907, ch. 114, § 103; L. 1913, ch. 85, § 7; March 15; R.S. 1923,§ 13-2405.