Prior to approval or rejection of a proposal relative to public utility rates, the Board of Supervisors by a majority vote of its members shall adopt a resolution, which shall not be subject to approval or disapproval by the Mayor, making a finding based on the data submitted, whether or not the proposal to fix, change or adjust rates, charges or fares has been so fixed that the revenue therefrom shall be sufficient to pay, for at least the balance of the current fiscal year and all of the succeeding fiscal year, all expenses of every kind and nature incident to the operation and maintenance of the affected utility, together with the interest and sinking fund charges for any bonds issued for the acquisition, construction or extension of such affected utility.
(Ord. No. 7384 (1939), Sec. 4)