21-27-181 - Municipality to make necessary adjustments of rates.
§ 21-27-181. Municipality to make necessary adjustments of rates.
While any such bonds are outstanding, it shall be the duty of the governing body of the municipality to fix, maintain and collect rates and charges for services furnished or made available by the sewage disposal system, adequate to pay maintenance and operation costs of the expenses allocable to the sewage disposal system, payment of principal of and interest on such bonds, and to provide and maintain the funds created by the resolution authorizing the bonds. Interest to accrue on the bonds and administrative expenses to estimated date when the sewage disposal system will become revenue producing and reserve funds created by the resolution authorizing the bonds may be set aside out of bond proceeds.
Sources: Laws, 1975, ch. 496, § 11; Laws, 1980, ch. 523, § 4, eff from and after passage (approved May 26, 1980).