§ 2-31-328. Pledge of revenues from other undertakings, utilities or public works.

The county may, in the discretion of its governing body, pledge any surplus revenues or any other undertakings, utilities or public works owned, operated or controlled by the county, to the payment of the principal of and interest on any bonds issued pursuant to this act [article] to finance said utility system under this act [article]. Surplus revenues, as used in section 17 [section 2-31-327], shall be construed to mean the net revenues derived by the county from the ownership and operation of such other undertakings, utilities or public works, after the payment of all expenses of maintenance, repair and operation, and all debt service or other charges which are payable out of, and a prior lien on, such revenues at the time of the pledging of such surplus revenues to bonds issued pursuant to this act [article], as provided herein.

All surplus revenues pledged as provided herein from the revenues of other undertakings, utilities or public works, shall be paid over to the appropriate fund or funds for revenues of such utility system, and shall be deemed to be and treated as other revenue derived from such utility system.

(Ord. No. 14-41, § 39, 10-7-14)