The town shall, to the fullest extent permitted by law, establish, maintain and collect reasonable and just rates and charges for the services and facilities afforded by the waterworks which will provide revenues at least sufficient to pay the reasonable and proper cost of the maintenance and operation of the waterworks, to provide a proper and reasonable depreciation account and to pay the principal of and interest on the bonds payable from the revenues of the waterworks as the same become due and provide a surplus or margin of 10% of the principal and interest due each year, which shall be cumulative. None of the facilities and services afforded by the waterworks system shall be furnished to any person, firm, corporation, residence, business or the town without a reasonable and just charge being made for the same.
(Prior Code, § 8:1:04) (Ord. 78-W-101, passed 2-1-1978; Ord. 78-W-104, passed 5-19-1978; Ord. 1982-01, passed 1-20-1982; Ord. 82-45, passed 5-4-1983; Ord. passed 5-1-1969; Ord. 86-2, passed 6-18-1986; Ord. 86-3, passed 11-5-1986; Ord. 92-04, passed 12-2-1992; Ord. 94-02, passed 6-15-1994; Ord. 2005-7, passed 8-15-2005)