§ 32-5. Limitations on effect of chapter.

Nothing contained in this chapter shall be construed as authorizing the impairment or breach of any bona fide contractual arrangements entered into a good faith by a public utility prior to the effective date of this chapter. Nor shall the provisions of this chapter be construed to impair or defeat the rights of any holders of revenue bonds, trust indentures, mortgages or other instruments evidencing indebtedness of a public utility issued or given in good faith prior to the effective date hereof to receive payment of such financial obligations in accordance with the terms thereof. The Water and Sewer Board in the exercise of its regulatory powers in respect to the rates and charges of public utilities as herein defined shall take into consideration and give full force and effect to such instruments created and existing prior to the effective date of this chapter. Nothing contained in this chapter shall prevent or limit Metropolitan Miami-Dade County in asserting in any court of competent jurisdiction any contractual right it may have relating to either water service or sewage disposal.

(Ord. No. 60-20, § 29, 7-5-60; Ord. No. 75-28, § 3, 5-7-75)