204.400. District to charge and collect sufficient revenues.
District to charge and collect sufficient revenues.
204.400. It shall be the mandatory duty of any common sewerdistrict which shall issue revenue bonds pursuant to sections204.250 to 204.470:
(1) To fix and maintain rates and make and collect chargesfor the use and services of the system, for the benefit of whichrevenue bonds were issued, sufficient to pay the cost ofmaintenance and operation thereof;
(2) To pay the principal of and the interest on all revenuebonds issued by the common sewer district chargeable to therevenues of the system; and
(3) To provide funds ample to meet all valid and reasonablerequirements of the resolution by which the revenue bonds havebeen issued.The rates shall be from time to time revised so as fully to meetthe requirements of sections 204.250 to 204.470. As long as anybond so issued or the interest thereon shall remain outstandingand unpaid, rates and charges sufficient to meet the requirementsof this section shall be maintained and collected by the sewerdistrict which issued the bonds.
(L. 1967 p. 310 § 21)