13-2422. Same; rates for water; how determined; sinking fund.
13-2422
13-2422. Same; rates for water; how determined; sinking fund.
The waterworks board shall fix such rates for water furnished to
consumers as will secure an income sufficient to pay all salaries and wages
of all officers and employees in such department; to cover the cost of all
materials and supplies used in the operation of the plant; to cover the
cost of all repairs; to cover all miscellaneous expenses; to pay all
interest charges upon all indebtedness of the city created for the purpose
of purchasing, improving or extending the waterworks, and to provide a
sinking fund sufficient for the purpose of paying off such indebtedness at
maturity, and to 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: Provided, That the waterworks board may fix
special rates for water furnished to the governing body of the city for
public purposes, or to organized institutions of charity.
History: L. 1937, ch. 143, § 9; March 16.