Revenues and earnings.

Tampa Related Laws, art. XXI, § 21.14

in effect

Sec. 21.14. - Revenues and earnings. The Board [City Council] shall fix and shall revise from time to time as may be necessary, rates and other charges for water furnished by the waterworks system. Such rates or other charges shall be so fixed and adjusted as to provide a fund sufficient to pay (a) the cost of maintaining, repairing and operating the waterworks system, including reserves, for extraordinary repairs and for renewals and replacements, (b) the principal of and the interest on all bonds heretofore issued by the City on account of the waterworks system and now outstanding (hereinafter sometimes called the "outstanding bonds"), as the same shall become due, (c) the principal of and the interest on all water revenue bonds issued under the provisions of this Act [division] as the same shall become due, and any premium required for the redemption of such bonds before maturity, and (d) the principal of and the interest on all general obligation bonds of the City for the payment of which any part of the revenues of the waterworks system may be required to be applied, and all sinking fund requirements and other requirements provided by the resolution authorizing the issuance of such bonds. Such rates or other charges shall not be subject to supervision or regulation by any State commission, board, bureau or agency. A sufficient amount of the revenues derived from the waterworks system, except such part thereof as may be required to pay the cost of maintaining, repairing and operating said system and to provide such reserves therefor as may be provided for in any resolution authorizing the issuance of water revenue bonds under the provisions of this Act [division], shall be set aside at such regular intervals as may be provided in such resolution in a sinking fund which is hereby pledged to, and charged with the payment of (1) the interest upon the outstanding bonds and upon such water revenue bonds as such interest shall fall due, (2) the principal of the outstanding bonds and of such water revenue bonds as the same shall fall due, (3) the principal of and the interest on any general obligation bonds of the City for the payment of which any part of the revenues of the waterworks system may be required to be applied, (4) the necessary charges of paying agents for paying such principal and interest, and (5) any premium upon bonds retired by call or purchase as herein provided. The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing the issuance of the water revenue bonds but, except as may otherwise be provided in such resolution, such sinking fund shall be a fund for the benefit of all of the outstanding bonds and the water revenue bonds issued for the waterworks system without distinction or priority of one over another. The Board [City Council] shall at the close of each fiscal year make a comprehensive survey and report of its operations of the waterworks system during the preceding fiscal year, including all matters relating to rates, revenues, expenses of maintenance, repair and operation and of replacements and extensions, principal and interest retirement, and the status of all funds, and shall set forth in such report the budget finally adopted by the Board [City Council] for the then current fiscal year. Copies of such annual report shall be filed with the City Clerk, with the City Comptroller [Director of Finance], and with all banks or trust companies at which the principal and interest of water revenue bonds issued under the provisions of this Act [division] may be payable, and shall be open to the inspection of all interested persons. (Laws of Fla. 1941, Ch. 21593, § 7; Compiled Charter 1958, § 781)

Source: City of Tampa, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/fl/tampa/codes/code_of_ordinances?nodeId=CHRELA_PTBRELA_ARTXXIUTATSY_DIV2COFU_S21.14REEAFetched: 10/28/2026