The legislative body shall provide for the establishment, from the net revenues of such waterworks system, of a sinking fund for the payment of the bonds and interest thereon and any charges connected therewith, plus ten per cent of the amount required for such payment, as a safety margin. Any surplus from the bond proceeds over the cost of establishing the system shall be paid into said sinking fund.
(1949 Rev., S. 756.)
Structure Connecticut General Statutes
Chapter 102 - Municipal Waterworks Systems
Section 7-234. - Operation of system, when. Payment of expenses. Waiver of acquisition rights.
Section 7-235. - Revenue bonds.
Section 7-236. - Issuance of bonds.
Section 7-237. - Sinking fund.
Section 7-238. - Trust indenture.
Section 7-240. - Separate accounts.
Section 7-241. - Additional bonds.
Section 7-242. - Issuance of refunding bonds.