§ 2-31-340. System to be self-sufficient and self-liquidating.

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It is the legislative intent that the utility system herein authorized shall be self-sufficient and self-liquidating. Notwithstanding any other provision of this act [article], especially section 18 [section 1-31-38], hereof, no county moneys and no revenues from any source other than the utility system shall be used at any time to pay, or pledged for the payment of, the expenses of constructing, acquiring, improving, maintaining, operating or repairing said system, or any expenses or fees incidental to the construction or acquisition of said system and the issuance of bonds under this act [article], except preliminary feasibility studies, and that no proceedings shall be taken hereunder unless it is adequately shown that the revenues and earnings of the utility system will be sufficient to pay the costs of constructing, acquiring, operating, maintaining and repairing the utility system and to pay the principal and interest of revenue bonds which may be issued to pay the cost of such project or improvements thereof, and the governing body shall make their certificate of their determination of such fact.

(Ord. No. 14-41, § 39, 10-7-14)

                    
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