Water Rates, Etc.
Said commissioners shall fix just and equitable prices and rates for the use of water, and shall prescribe the time and manner of payment. The income of the water works shall be applied to defraying all operating expenses, interest charges and payments on the principal as they accrue upon any bonds or notes issued under authority of this act. If there should be a net surplus remaining after providing for the aforesaid charges, it may be used for such new construction as the water commissioners may determine upon, and in case a surplus should remain after payment for such new construction the water rates shall be reduced proportionately. No money shall be expended in new construction by the water commissioners except the net surplus aforesaid, unless the district appropriate and provides money therefore. Said commissioners shall annually and as often as the district may require, render a report of the condition of the works under their charge, and an account of their doings, including an account of receipts and expenditures.