§ 31-35-616 — Revenue kept in separate fund

(1) The revenue derived from the
connections with said sewer or sewerage systems shall be placed in the treasury of
the municipality or district and may be kept in a separate fund. If the revenue is
placed in a separate fund, it shall not be paid out or distributed except for the
purpose of operating, renewing, improving, or extending the sewerage system and
the payment of the salaries of the employees engaged in operating said sewerage
system. At any time there is a surplus of such funds, it shall be semiannually placed
in a sinking fund for the purposes of acquiring, renewing, or extending such
sewerage system or making renewals or extensions thereto or for retiring the
bonded indebtedness upon said sewerage system; but if said surplus fund is used
to retire outstanding sewer bonds, the same shall be in addition to the money
derived by taxation for such retirement of sewer bonds as is provided by law.

(2) Any municipality or incorporated sewer or sanitary district which is being
provided with services by the governing body fixing such rates and charges is
subject to the same charges and rates established as provided in this part 6 or to
charges and rates established in harmony therewith for service rendered such
municipality or incorporated sewer or sanitary district and shall pay such rates or
charges when due, and the same shall be deemed to be a part of the revenues of
the works and shall be applied as provided in this section for the application of such
revenues.

Legislative History

Source: L. 75: Entire title R&RE, p. 1267, � 1, effective July 1.