(1) The board shall supervise and regulate every utility owned, operated or owned
and operated by the district, including the fixing and adjusting of rates, rentals,
charges and classifications, contracts, practices and schedules, for or in connection
with any service, product or commodity owned or controlled by the district.
(2) Rates so fixed shall be sufficient to accomplish the following purposes:
(a) For proper operation and maintenance of the property or facilities owned by the
(b) To pay all taxes which may be levied upon property owned by the district or which
it may be required to pay out of its gross revenues.
(c) For payment of principal and interest of all bonds, warrants or obligations of
any character in accordance with terms and provisions thereof respecting time, manner
and amount of payment.
(d) For payment of any other indebtedness or obligations which the district may be
obligated to pay.
(e) To establish and maintain any special funds which the district has obligated itself
to create for the purpose of paying bond issues or other obligations.
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