74.480 Exclusive water supply -- Basis for establishing rate, charges.
(1) When a commission has been created, the cities, water associations, water districts,
or federal agencies represented by the commission shall contract with the <br>commission for water and the contracts may provide that the sources of supply of <br>water of the commission shall be the exclusive water supply for the respective water <br>distribution systems. These cities, water associations, or water districts shall <br>establish charges and rates for water supplied by them to consumers sufficient at all <br>times: <br>(a) To pay the principal of and interest on all outstanding obligations of the cities,
water associations, or water districts which by their terms are payable in any <br>manner from the revenues of their respective waterworks distribution systems; <br>and
(b) To pay the cost of operation and maintenance of their respective waterworks
distribution systems, including the payments to be made to the commission <br>pursuant to contracts for the purchase of water by those cities, water <br>associations, or water districts.
(2) The commission shall establish charges and rates for water supplied to those cities,
water associations, water districts, or federal agencies represented by the <br>commission sufficient at all times: <br>(a) To pay the principal of and interest on the revenue bonds issued by the
commission under the provisions of KRS 74.420 to 74.520;
(b) To pay the cost of operation and maintenance of the sources of supply of
water; and
(c) To provide an adequate fund for renewals, replacements, and reserves.
Contracts entered into between the commission and the cities, water associations, or <br>water districts shall include covenants for the establishment of rates and charges as <br>provided in this section.
Effective: June 24, 2003 <br>History: Amended 2003 Ky. Acts ch. 167, sec. 7, effective June 24, 2003. -- Amended
1996 Ky. Acts ch. 122, sec. 7, effective July 15, 1996. -- Created 1960 Ky. Acts <br>ch. 207, sec. 7, effective June 16, 1960.
74.480 Exclusive water supply -- Basis for establishing rate, charges.
(1) When a commission has been created, the cities, water associations, water districts,
or federal agencies represented by the commission shall contract with the <br>commission for water and the contracts may provide that the sources of supply of <br>water of the commission shall be the exclusive water supply for the respective water <br>distribution systems. These cities, water associations, or water districts shall <br>establish charges and rates for water supplied by them to consumers sufficient at all <br>times: <br>(a) To pay the principal of and interest on all outstanding obligations of the cities,
water associations, or water districts which by their terms are payable in any <br>manner from the revenues of their respective waterworks distribution systems; <br>and
(b) To pay the cost of operation and maintenance of their respective waterworks
distribution systems, including the payments to be made to the commission <br>pursuant to contracts for the purchase of water by those cities, water <br>associations, or water districts.
(2) The commission shall establish charges and rates for water supplied to those cities,
water associations, water districts, or federal agencies represented by the <br>commission sufficient at all times: <br>(a) To pay the principal of and interest on the revenue bonds issued by the
commission under the provisions of KRS 74.420 to 74.520;
(b) To pay the cost of operation and maintenance of the sources of supply of
water; and
(c) To provide an adequate fund for renewals, replacements, and reserves.
Contracts entered into between the commission and the cities, water associations, or <br>water districts shall include covenants for the establishment of rates and charges as <br>provided in this section.
Effective: June 24, 2003 <br>History: Amended 2003 Ky. Acts ch. 167, sec. 7, effective June 24, 2003. -- Amended
1996 Ky. Acts ch. 122, sec. 7, effective July 15, 1996. -- Created 1960 Ky. Acts <br>ch. 207, sec. 7, effective June 16, 1960.
74.480 Exclusive water supply -- Basis for establishing rate, charges.
(1) When a commission has been created, the cities, water associations, water districts,
or federal agencies represented by the commission shall contract with the <br>commission for water and the contracts may provide that the sources of supply of <br>water of the commission shall be the exclusive water supply for the respective water <br>distribution systems. These cities, water associations, or water districts shall <br>establish charges and rates for water supplied by them to consumers sufficient at all <br>times: <br>(a) To pay the principal of and interest on all outstanding obligations of the cities,
water associations, or water districts which by their terms are payable in any <br>manner from the revenues of their respective waterworks distribution systems; <br>and
(b) To pay the cost of operation and maintenance of their respective waterworks
distribution systems, including the payments to be made to the commission <br>pursuant to contracts for the purchase of water by those cities, water <br>associations, or water districts.
(2) The commission shall establish charges and rates for water supplied to those cities,
water associations, water districts, or federal agencies represented by the <br>commission sufficient at all times: <br>(a) To pay the principal of and interest on the revenue bonds issued by the
commission under the provisions of KRS 74.420 to 74.520;
(b) To pay the cost of operation and maintenance of the sources of supply of
water; and
(c) To provide an adequate fund for renewals, replacements, and reserves.
Contracts entered into between the commission and the cities, water associations, or <br>water districts shall include covenants for the establishment of rates and charges as <br>provided in this section.
Effective: June 24, 2003 <br>History: Amended 2003 Ky. Acts ch. 167, sec. 7, effective June 24, 2003. -- Amended
1996 Ky. Acts ch. 122, sec. 7, effective July 15, 1996. -- Created 1960 Ky. Acts <br>ch. 207, sec. 7, effective June 16, 1960.
