The rates established by Council pursuant to this chapter
be sufficient to provide for payment of the expenses of administration and operation of the waterworks system and of such maintenance thereof as
be necessary to preserve the same in good repair and working order; to provide for payment of the interest upon and the principal of all bonds payable therefrom, as and when the same become due and payable, and for the creation of a reserve for the payment of principal and interest as required; and to provide for such other expenditures and funds for the system as are required. Rates shall be fixed and revised from time to time by Council so as to produce the foregoing amounts, and the city covenants and agrees to maintain at all times such rates and services furnished by the system as are sufficient to provide for the foregoing.
(Ord. 34, passed 3-1-1967)