Sec. 7-130i. Rates, rents, fees and charges.
Sec. 7-130i. Rates, rents, fees and charges. The authority is authorized to fix,
revise, charge and collect rates, rents, fees and charges for the use of and for the services
furnished or to be furnished by each project and to contract with any person, partnership,
association or corporation, or other body, public or private, in respect thereof. Such
rates, rents, fees and charges shall be fixed and adjusted in respect of the aggregate of
rates, rents, fees and charges from such project so as to provide funds sufficient with
other revenues, if any, (1) to pay the cost of maintaining, repairing and operating the
project and each and every portion thereof, to the extent that the payment of such cost
has not otherwise been adequately provided for, (2) to pay the principal of and the
interest on outstanding revenue bonds of the authority issued in respect of such project
as the same shall become due and payable, and (3) to create and maintain reserves
required or provided for in any resolution authorizing, or trust agreement securing, such
revenue bonds of the authority. Such rates, rents, fees and charges shall not be subject
to supervision or regulation by any department, commission, board, body, bureau or
agency of this state other than the authority. A sufficient amount of the revenues derived
in respect of a project, except such part of such revenues as may be necessary to pay
the cost of maintenance, repair and operation and to provide reserves and for renewals,
replacements, extensions, enlargements and improvements as may be provided for in
the resolution authorizing the issuance of any revenue bonds of the authority or in the
trust agreement securing the same, shall be set aside at such regular intervals as may be
provided in such resolution or trust agreement in a sinking or other similar fund which
is hereby pledged to, and charged with, the payment of the principal of and the interest
on such revenue bonds as the same shall become due, and the redemption price or the
purchase price of bonds retired by call or purchase as therein provided. Such pledge
shall be valid and binding from the time when the pledge is made; the rates, rents, fees
and charges and other revenues or other moneys so pledged and thereafter received by
the authority shall immediately be subject to the lien of such pledge without any physical
delivery thereof or further act, and the lien of any such pledge shall be valid and binding
as against all parties having claims of any kind in tort, contract or otherwise against the
authority, irrespective of whether such parties have notice thereof. Neither the resolution
nor any trust indenture or agreement by which a pledge is created need be filed or
recorded except in the records of the authority. The use and disposition of moneys to
the credit of such sinking or other similar fund shall be subject to the provisions of the
resolution authorizing the issuance of such bonds or of such trust agreement. Except as
may otherwise be provided in such resolution or such trust indenture or agreement, such
sinking or other similar fund shall be a fund for all such revenue bonds issued to finance
projects of such authority without distinction or priority of one over another.
(February, 1965, P.A. 460, S. 10.)