(a) To assure that each sewerage facility always remains self-supporting, the governing body of a municipality that issues bonds under this subtitle shall set, collect, and whenever necessary revise reasonable rates, fees, benefit assessments, or charges for the services, facilities, and commodities of the sewerage facility.
(b) The rates, fees, benefit assessments, or charges shall be set so as to produce revenue and reserves that are at least sufficient:
(1) To pay, when due, all bonds and the interest on the bonds, for the payment of which the revenue is pledged, charged, or otherwise encumbered; and
(2) To provide for all expenses of operation and maintenance of the sewerage facility.