The rates currently fixed are estimated to be sufficient to provide for the payment of the interest upon and the principal of all the bonds as and when the same become due and payable; to provide for the erection of a reserve therefor as required by this chapter; to provide for the payment of the expenses of administration and operation and such expenses for maintenance of said system as are necessary to preserve the same in good repair and working order; and to provide for such other expenditures and funds for said system as this chapter may require. Such rates shall be fixed and revised from time to time as may be necessary to produce these amounts, and it is hereby covenanted and agreed at all times to fix and maintain such rates for services furnished by the system as shall be sufficient to provide for the foregoing.
(Ord. 319. Passed 12-22-97.)