The rates fixed by this chapter are estimated to be sufficient to provide for the payment of expenses of administration, operation and maintenance of the water system as are necessary to preserve the same in good repair and working order, to provide for the payment of the interest upon and principal of all bonds as and when the same become due and payable, and the creation of the reserve therefor required by this chapter, and to provide for such other expenditures and funds for such 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 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.
(1979 Code Sec. 14.20.040)