(A) There shall be and are hereby established for the use of and the service rendered by the waterworks system of the town the rates and charges set out in § 51.02.
(B) The rates herein approved shall provide for a reasonable return on the water utility plant of the town and such other legal and necessary expenses as provided in IC 8-1.5-3-8.
(C) The Town Council hereby elects to pay the town from water rates and charges payments in lieu of property taxes as provided in IC 8-1.5-3-8.
(Ord. 1997-6, passed 8-25-97)