17D-1-506 - Governing body required to fix rates to cover district expenses and bonds.
17D-1-506. Governing body required to fix rates to cover district expenses andbonds.
The governing body shall fix the rate or rates for services or commodities provided by thespecial service district that will, in conjunction with the proceeds of any maintenance andoperation 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 specialservice 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 thebonds as they become due.
Enacted by Chapter 360, 2008 General Session