The village waterworks system in its entirety, together with all additions, improvements, and extensions thereto that may hereafter be made and the village sewerage system in its entirety, together with all additions, improvements, and extensions thereto that may hereafter be made, of the village are declared to be a combined system. Said combined waterworks and sewerage system shall be maintained and operated as a single utility. A charge or rate shall be established for the use of such combined system, which shall be reasonable and commensurate with the service performed by said combined system, and shall be sufficient to pay the cost of operation and maintenance of said system, to provide an adequate depreciation fund and to pay the principal of and interest upon all revenue bonds that are payable from the revenues of said combined system.
(Ord. 78-28, passed 11-14-78; Am. Ord. 16-15, passed 4-26-16)