(A) The existing waterworks system in its entirety, together with all additions, improvements and extensions thereto, that may hereafter be made, are hereby declared to be a public water system to be known as the Department of Public Works Water Division. Such waterworks systems of the City shall be maintained and operated as a Division of Public Works; except, however, that all receipts and expenditures, budgets and other financial transactions shall be reported and kept separate as to the water system and all requirements of any bonding ordinances heretofore or hereafter in force shall be complied with separately as to said system.
(B) Charges or rates shall be established separately for water use and such rates shall be reasonable and commensurate with the water services performed by such utility system, and sufficient to maintain and operate such system and provide adequate depreciation funds and pay the principal and interest on any revenue bonds which may have been or may hereafter be issued, which bonds are by their terms payable from the revenues of the water system.
(C) Any charges or rates as hereinafter stated for the water system of the City of Mt. Vernon may be paid in cash, by check or by other approved medium of exchange; provided, however, that a payor by check thereby expressly agrees to pay to the City of Mt. Vernon a $25.00 charge for each check returned or dishonored by the payor’s bank. Said charge is immediately due and payable upon demand by the City therefor. Each statement for service charges shall contain the phrase: “An additional service charge of $25.00 is assessed upon any check being returned or dishonored by payor’s bank.”
(Prior Code, Art. 16, § 16.1)