46-567.02. Revenue bonds; rates; charges; purpose.

Whenever revenue bonds have been authorized and issued under the provisions of section 46-567.01, the board is hereby authorized and directed to fix rates and charges for the sale of power and energy, water for domestic and irrigation uses and all other services furnished, sold, or supplied by the district, and Class B, C, and D assessments, which shall be fair and equitable and which shall be sufficient, together with other revenue, taxes, and assessments of the district, to pay the proper operation and maintenance cost of the works of the district, and to provide proper renewals and replacements thereof and extensions thereto, and to pay the principal of and interest on such bonds, as the same become due, including reasonable reserves for all of the purposes, and the board is further authorized to pledge all or any part of the revenue and assessments, except taxes levied as Class A to the payment of such bonds, notes, or other evidences of indebtedness under such terms and conditions as may seem desirable to the board. All provisions contained in any resolution authorizing the issuance of such bonds providing for the establishment of such rates and charges and the levying of such assessments, and for the collection, deposit, and disbursement of the money of the district from whatever source derived, which are designed for the protection, safeguard, and security of such bonds, and the rights of the holders thereof shall constitute a contract between the district and bondholders, and the provisions thereof and the provisions of sections 46-567.01 to 46-567.06 shall be enforceable by any bondholder by mandamus or any other appropriate suit or action in any court of competent jurisdiction against the board and the officers of the district. The district may also covenant with the holders of the bonds from time to time with respect to limitations upon the right to dispose of any of the works of the district without providing for the payment of bonds, and limitations upon the issuance of additional bonds, and concerning the appointment of trustees, depositories, and paying agents to receive, hold, deposit, invest, and reinvest all or any part of the income, revenue, receipts, profits, and assessments derived by the district, pursuant to sections 46-567.01 to 46-567.06.

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