Tennessee § 7-82-403 - Rates sufficient to pay costs and retire bonds.

§ 7-82-403. Rates sufficient to pay costs and retire bonds.

The board of commissioners of any district shall prescribe and collect reasonable rates, fees, tolls, or charges for the services, facilities and commodities of its system or systems, shall prescribe penalties for the nonpayment of the rates, fees, tolls, or charges, and shall revise such rates, fees, tolls or charges from time to time whenever necessary to ensure that such system or systems shall be and always remain self-supporting. The rates, fees, tolls or charges prescribed shall be such as will always produce revenue at least sufficient to: Provide for all expenses of operation and maintenance of the system or systems, including reserves for the expenses; and Pay when due all bonds and interest on the bonds, for the payment of which such revenues are or shall have been pledged, charged or otherwise encumbered, including reserves for the bonds and interest. Acts 1937, ch. 248, § 14; C. Supp. 1950, § 3695.40 (Williams, § 3695.39); T.C.A. (orig. ed.), § 6-2625; Acts 1987, ch. 422, § 8; 1989, ch. 139, § 6; 1989, ch. 221, § 8; 2011, ch. 392, § 13; 2012, ch. 674, § 1. Compiler's Notes. For table of U.S. decennial populations of Tennessee counties, see Volume 13 and its supplement. Cross-References. Refinancing of bonds, authorized, § 7-82-507 . Textbooks. Tennessee Jurisprudence, 13 Tenn. Juris., Gas Companies, § 7; 25 Tenn. Juris., Water Companies and Waterworks, §§ 4, 5. Attorney General Opinions. Utility district supply contracts, OAG 93-59, 1993 Tenn. AG LEXIS 59 (9/3/93). A utility district created under the Utility District Law of 1937, T.C.A. § 7-82-101 et seq., has the authority to charge a sewer fee to a property owner to whom it makes sewer service available, even though the property owner is not connected, OAG 02-051, 2002 Tenn. AG LEXIS 52 (4/22/02). A utility district is authorized to contribute funds to its local chamber of commerce, its county government, or its county's nonprofit economic development corporation for economic development activities aimed at increasing development in the district's service area in anticipation of increasing its customer base and service loads, OAG 03-017, 2003 Tenn. AG LEXIS 24 (2/19/03). Requirements for utility rates, OAG 05-165 (10/25/05). “Growth and Development Fees” and “Impact Fees” levied by local utilities. OAG 12-11, 2012 Tenn. AG LEXIS 11 (2/3/12).