Projects to be self-supporting.
Memphis Charter, art. 78, § 883
in effectSec. 883. - Projects to be self-supporting.
The governing body of the municipality issuing bonds for the payment of principal and interest on which the full faith and credit of the City is not pledged, shall prescribe and collect reasonable rates, rents, fees or charges for the services, facilities and commodities of such public works project, and shall revise such rates, fees or charges from time to time whenever necessary so that such public works project shall be and always remain self-supporting. The rates, fees or charges prescribed shall be such as will produce revenue at least sufficient (a) to pay when due all bonds and interest thereon, for the payment of which such revenue is or shall have been pledged, charged or otherwise encumbered including the accumulation during the first five years of the operation of such public works project of a reserve equal to the average annual requirements for the payment of principal and interest on outstanding bonds issued pursuant to this Act for such public works project, which reserve shall be accumulated at the rate of twenty percent per annum, and (b) to provided for all expenses of operation and maintenance of such public works project, including reasonable reserves therefor.
(Priv. Acts 1935, ch. 108, § 16, 1st Spec. Sess.)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART78PUWOAC_S883PRBESEPPFetched: 10/28/2026