Whenever a public agency shall have executed a contract pursuant to this act and the payments thereunder are to be made either wholly or partly from the revenues of the public agency’s waterworks, water supply system, sewerage system or sewage disposal system or a combination of such systems, the duty is hereby imposed on the public agency to establish and maintain and from time to time to adjust the rates charged by the public agency for the services of such system or systems, such that the revenues therefrom together with any taxes levied in support thereof will be sufficient at all times to pay: (a) the expense of operating and maintaining such system or systems including all of the public agency’s obligations to the district, its successors or assigns under such contract; and (b) all of the public agency’s obligations under and in connection with revenue bonds theretofore issued, or which may be issued thereafter and secured by the revenues of such system or systems. Any such contract may require the use of consulting engineers and financial experts to advise the public agency whether and when such rates are to be adjusted.
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