Sec. 1501.261. RATES, TOLLS, AND CHARGES. After bonds are issued under this subchapter, the governing body of the municipality shall establish the rates, tolls, and charges for service provided by the municipality's waterworks system, or combined waterworks and sanitary sewer system if appropriate, in amounts sufficient to:
(1) pay the cost of operating and maintaining the system;
(2) pay when due the principal of and interest on the bonds; and
(3) establish and maintain the reserve fund and other funds prescribed by the ordinance authorizing the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Section: Previous 1501.212 1501.213 1501.251 1501.252 1501.253 1501.254 1501.255 1501.256 1501.257 1501.258 1501.259 1501.260 1501.261 1501.262 1501.263 NextLast modified: September 28, 2016