Oklahoma § 82-1275 - Rates and charges - Disposition of revenues

§ 82-1275. Rates and charges - Disposition of revenues

A. Districts formed pursuant to this act shall be operated

without profit, but the rates, revenues, fees, rents or other

charges for water or sewage services or facilities, supplies,

equipment or other services furnished by the water district shall be

sufficient at all times:

1. To pay all operating and maintenance expenses necessary or

desirable for the prudent conduct of its affairs and the principal

of and interest on the obligations issued or assumed by the district

in the performance of the purposes for which it was organized; and

2. For the creation of adequate reserves.

B. The revenues of the district shall be devoted, first, to the

payment of operating and maintenance expenses and the principal and

interest on outstanding current obligations, and, thereafter, to

such reserves for additional improvements, new construction,

depreciation and contingencies as the board of directors may from

time to time prescribe.

C. Revenues not required for the purposes set forth in

subsection B of this section shall be returned from time to time to

the customers or public agency members of the district on a pro rata

basis, according to the amount of business done with each customer

or public agency member during the period for which such return is

made, either in cash, in abatement of current charges for water, or

otherwise as the board determines; such return may be made by way of

a general rate reduction to customers or public agency members if

the board so elects.

Oklahoma Statutes - Title 82. Waters and Water Rights

Added by Laws 1972, c. 249, § 10.

6, eff. July 30, 1985.

Amended by Laws 1985, c. 353, §