Sec. 7-233m. Sufficiency of rate schedule. Public hearing. Public inspection.
Sec. 7-233m. Sufficiency of rate schedule. Public hearing. Public inspection.
A municipal cooperative shall prescribe and from time to time when necessary revise
a schedule of all of its rates, fees, rentals or other charges, which shall comply with the
terms of any resolution, contract or other agreement of the municipal cooperative and
shall be such that the revenues of the municipal cooperative will at all times be adequate
to pay the expenses of operation and maintenance of its project or projects, including
all reserves, insurance, extension, and replacement costs and to pay the principal of and
interest on any bonds or notes of the municipal cooperative issued under this chapter,
and to maintain such reserves therefor as may be required by the terms of any resolution,
contract or other agreement of the municipal cooperative or as may be deemed necessary
or desirable by the municipal cooperative. Said schedule shall thus be prescribed and
from time to time revised by the municipal cooperative after public hearing thereon
which shall be held by the municipal cooperative at least seven days after notice thereof
has been published at least once in the area of operation. A copy of the schedule of such
rates, fees, rentals or other charges of the municipal cooperative then in effect shall at
all times be kept on file at the principal office of the municipal cooperative and shall at
all reasonable times be open to public inspection.
(P.A. 75-634, S. 13, 24.)