§4545.17. Rates and charges

The Authority is hereby authorized to fix, charge and collect rents, rates, fees and other charges for the purchase of output or capacity of any project, or for the use of and for the electric power and energy or services, facilities and commodities sold, furnished or supplied by, the Authority. Such rates, fees and charges shall be so fixed and revised as to provide funds, with other funds available for such purposes, sufficient at all times (i) to pay the cost of maintaining, operating and repairing the project or projects on account of which such bonds are issued, including reserves for such purposes and for replacement and depreciation and necessary extensions; (ii) to pay the principal and redemption premium, if any, and interest on the revenue bonds as the same shall become due and to create and maintain reserves therefor; (iii) to comply with the terms of any resolution or trust agreement securing bonds of the Authority; and (iv) to pay any and all amounts which the Authority may be obligated to pay from said revenues by law or contract. The Authority shall charge and collect the rates, fees and charges so fixed or revised. Rates, rentals, fees and charges for the sale or purchase of output or capacity of, or for the use of and for the electric power and energy or services, facilities and commodities sold, furnished or supplied by, a project may be fixed and revised and charged and collected by the Authority under this Chapter without obtaining the approval or consent of any department, division, commission, board, bureau or agency of the state, and without any other proceeding or the happening of any other condition or thing than those proceedings, conditions or things which are specifically required by this Chapter.

Added by Acts 1979, No. 772, §1, eff. July 20, 1979.