Nothing set forth in this chapter shall be construed in such manner as to conflict with the requirements set forth in KRS Chapter 58, and in the ordinances authorizing the issuance of said "City of Lawrenceburg Water and Sewer Revenue Bonds--Series of 1961, 1978, and 1983," that the rents, royalties, fees, rates, and charges for time to time so as to be sufficient to provide for payment of interest upon all bonds and to create a sinking fund to pay the principal thereof when due, and to provide for the operation and maintenance of the system, and adequate reserve and depreciation set forth are initial only, and are not contractual, but will be increased, if increase should be required at any time, or from time to time, to comply with the requirements set forth in the statutes and in the ordinance.
(Ord. No. 1991-7, 8-12-91)
Cross reference:
Bond issues, see T.S.O. VII