(A) The Town Council shall fix and revise from time to time rates, fees and other charges for the use of and for the services furnished or to be furnished by the sewer system and sewage disposal system, and operated by the town. Such rates, fees and charges shall be so fixed and revised as to provide funds, with other funds available for such purposes, sufficient at all times to:
(1) Pay the costs of maintaining and operating the sewer system and sewage disposal system, including reserves for such purposes and for replacement and depreciation and necessary extensions;
(2) Pay the principal and interest on the revenue bonds as the same shall become due and reserves therefor; and
(3) Provide a margin of safety for making such payments.
(B) The town shall charge and collect the rates, fees and charges so fixed or revised, and such rates, fees and charges shall be subject to the jurisdiction of the Town Council.
(C) The Town Council shall make and enforce such rules and regulations as it may deem necessary for the enforcement of the provisions hereof, for the proper determination and collection of the rates and charges herein provided and for the safe, efficient and economical management of the system. Such rules and regulations, when not repugnant to existing ordinances of the town or laws of the state, shall have the same force and effect as ordinances of the Council.
(1996 Code, § 128-50) Penalty, see § 10.99