40-1127. Rates and charges
The rates and charges for service furnished pursuant to this article shall be determined by vote of the majority of all of the members of the board. Such rates shall be reasonable, and, insofar as is practical, the revenue derived therefrom shall be sufficient to pay, in the following priority:
1. Interest and principal of the bonds, subject to the applicable provisions of this chapter authorizing issuance and retirement of bonds.
2. Operating expenses of the authority.
3. Repairs, maintenance and depreciation of works and property owned or operated by the authority.
4. Amounts necessary for the purchase, lease, or acquisition of property and equipment.
5. Amounts necessary for the payment of contracts, agreements, leases and other legal liabilities entered into by the authority.
Section: Previous 40-1118 40-1121 40-1122 40-1123 40-1124 40-1125 40-1126 40-1127 40-1128 40-1131 40-1132 40-1133 40-1134 40-1135 40-1136 NextLast modified: October 13, 2016