9-41-9. Rates supervised by Public Utilities Commission--Sufficient for bond retirement and operation.
The rates to be charged by the municipality for the telephone service shall be subject to the supervision of the Public Utilities Commission and shall be sufficient to provide for the payment of interest upon all bonds and to create a debt service fund to pay the principal thereof as and when the same becomes due and to provide for the operation and maintenance and repairs thereof and depreciation and shall be revised from time to time with the consent of the Public Utilities Commission so as to produce these amounts.
Source: SL 1953, ch 275, §4; SDC Supp 1960, §45.24C04.