The waterworks system of the Village and the sewerage system of the Village, together with all additions, improvements and extensions to such systems that may hereafter be made, are hereby declared to be a combined system, and such combined waterworks and sewerage system shall be maintained and operated as a single utility.
A charge or rate shall be established for the use of such combined system, which shall be reasonable and commensurate with the service performed by such combined system. Such charge or rate is set forth in Section 1044.01 and shall be sufficient to maintain, operate and provide an adequate depreciation fund and pay the principal and interest on any revenue bonds which may be issued, which by their terms are made payable from the revenues of such combined system.
(Ord. 415. Passed 10-13-64; 1976 Code § 19-1.)