17D-1-506. Governing body required to fix rates to cover district expenses and bonds.
119 words·~1 min read·
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17D-1-506. Governing body required to fix rates to cover district expenses and bonds.
The governing body shall fix the rate or rates for services or commodities provided by the special service district that will, in conjunction with the proceeds of any maintenance and operation tax and other special service district revenues:
(1)pay the special service district's operating expenses;
(2)provide for repairs and depreciation of works owned or operated by the special service district;
(3)pay the interest on any bonds issued by the special service district; and
(4)provide, as much as practicable, a sinking or other fund to pay the principal of the bonds as they become due.
Enacted by Chapter 360 , 2008 General Session