2020 Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 92C
Section 11-92C-22 - Establishment and Revision of Rentals, Licenses, Rates, Fees, and Charges for Services or Facilities Rendered by Authority.

Section 11-92C-22

Establishment and revision of rentals, licenses, rates, fees, and charges for services or facilities rendered by authority.

Rates, fees, charges, rentals, and licenses for services rendered by an authority, a cooperative district of which the authority is a member, or a private user or facilities provided by the authority, a cooperative district of which the authority is a member, or a private user from any of their projects shall be so fixed and, from time to time, revised as at all times to provide funds at least sufficient, taking into account other sources for the payment thereof, to:

(1) Pay the cost of operating, maintaining, repairing, replacing, extending, and improving the project or projects of the authority, a cooperative district of which the authority is a member, or any private user.

(2) Pay the principal of and the interest on all bonds issued and obligations assumed by the authority, a cooperative district of which the authority is a member, or any private user that are payable out of the revenues derived from operation of the project or projects of the authority, a cooperative district of which the authority is a member, or any private user as the principal and interest become due and payable.

(3) Create and maintain reserves for the purposes of subdivision (1) or (2) or any purpose as may be provided in any trust indenture executed by the authority, a cooperative district of which the authority is a member, or any private user under this chapter or in any resolutions or agreements of the board authorizing the issuance of bonds, the assumption of any obligation, or the acquisition of the project.

(4) Make annual payments, if any, to the United States of America or any agency or instrumentality thereof, the state, municipalities, counties, departments, authorities, agencies, and political subdivisions of the state, and any public corporations organized under the laws of the state as the authority, a cooperative district of which the authority is a member, or any private user may have contracted to make.

(Act 2020-72, §22.)