Any schedule of rates, fees, and charges imposed on water customers by a publicly
owned water distribution system within the boundaries of the district, or any additions,
modifications, or changes to any schedule of rates, fees, and charge, shall provide
a fair and uniform revenue return to such publicly owned water distribution system.
The term "fair and uniform revenue return" means such rates, fees, and charges sufficient
to produce adequate revenues to fund outstanding indebtedness, approved capital improvements
and additions, and necessary anticipated indebtedness to provide the funds to construct
or acquire such capital improvements and additions, reasonable costs of operation
and maintenance, and customary renewal and replacement requirements, plus such reasonable
and customary surplus, as necessary to receive financing for approved capital acquisitions
and additions. No value shall be given to investment in capital facilities in the
event such capital facilities are dedicated to the publicly owned water distribution
systems without consideration. Prior to the effective date of any proposed additions,
modifications, or changes to any schedule of rates, fees, and charges of a publicly
owned water distribution system within the boundaries of the district, the proposed
schedule of rates, fees, and charges shall be certified to the authority together
with a detailed financial plan demonstrating that such proposed schedule of rates,
fees, and charges provide a fair and uniform revenue return to such publicly owned
water distribution system. The authority shall make such proposed schedule of rates,
fees, and charges and financial plan available to interested members of the public,
and any such proposed schedule of rates, fees, and charges shall not become effective
until 60 days subsequent to the date of certification. Any person, individual or corporate,
and any public body receiving water from the publicly owned water distribution system
shall have standing to institute appropriate proceeding in a court of competent jurisdiction
to determine whether the proposed schedule of rates, fees, and charges provide a fair
and uniform revenue return.
