§ 18-11. Water rates.

In the case of any district created and established under the provisions of this article for acquiring, constructing, reconstructing or installing a water system, the Board shall fix and revise from time to time rates and charges for water furnished by the water system. Such rates and charges shall be so fixed and revised as to provide funds sufficient at all times:

(a)

To pay the cost of maintaining, repairing and operating the water system and to create reserves for such purposes and for renewals and replacements.

(b)

To pay the cost of any water supplied to the district at wholesale.

(c)

To pay such portion of the amount required in each year for paying the principal of and the interest on bonds issued on account of such water system and to provide for such reserves therefor as the Board may deem equitable. Such rates and charges shall not be subject to supervision or regulation by any commission, Board, bureau or agency of the state.

The Board may adopt such rules and regulations as it may deem necessary to enforce the collection of any such water rates, including (but without limitation) provisions for shutting off the supply of water, and for making deposits in advance to secure the payment of such water rates.

In case the water system shall be operated by a municipality under a contract with the Board for supplying and distributing water within the district, the foregoing provisions of this section shall be subject to the provisions of such contract. Any such contract with a municipality may provide that title to the water system shall vest in the municipality.

(Ord. No. 60-7, § 12, 2-9-60; Ord. No. 64-26, § 1, 7-7-64)