3412 ARTICLE 16.

1922, ch. 216, sec. 9.

394. For the purpose of paying the interest and sinking fund on that
part of the bond issue covering the cost of water and sewer connections,
as provided under Section 392, the Mayor and Council shall make such
assessment for each of such connections as they shall determine to be
necessary. All of said assessments for water connections shall be uniform
throughout the town, and likewise said assessments for sewer connections
shall be uniform, subject, however, to revision annually by the Mayor and
Council as costs and conditions may require. Assessments for water and
sewer connections shall be payable annually for a period of years coexten-
sive with the period of maturity of the bonds out of the proceeds of which
they were constructed; provided, however, that the Mayor and Council
shall establish a fixed uniform charge for all water connections and a fixed
uniform charge for all sewer connections, fully sufficient to cover their
cost and chargeable annually, which any property owner may elect to
pay in one sum, at the time the connection is extended to his property
line by the Mayor and Council, instead of said annual payments for said
connection as above provided; and provided further, that any property
owner, at any time during the life of a connection assessment, may extin-
guish the same by payment in cash of an amount, which, if put at inter-
est at 3 1/2 per cent., compounded annually, would yield an annuity equal
to the annual connection assessment for the period for which said assess-
ment has yet to run. Water and sewer connection assessments shall have
the same priority rights, be payable at the same time and in the same
manner, be enforceable in the same way, and be subject to the same pen-
alties for non-payment, as front-foot assessments.

1922, oh. 216, sec. 10.

395. All sums collected by the Mayor and Council for front-foot and
connection assessments levied against property for water and sewer con-
struction, as provided under Sections 391 and 394, shall be set aside as a
separate fund and designated as the "Current Interest and Sinking Fund
Account," from which fund interest shall be paid on all outstanding
bonds, and the balance, if any, transferred to the "Water and Sewerage
Sinking Fund Account," as provided under Section 389. The Mayor
and Council, in order to determine the amount necessary to be levied under
Section 389, shall deduct the amount to the credit of said "Current Inter-
est and Sinking Fund Account," from the whole amount to be raised in
any one year for interest and sinking fund on outstanding bonds, and the
balance remaining to be raised shall be the amount to be collected by
taxation as provided under Section 389.

1922, ch. 16, sec. 11.

396. For the purpose of providing funds for maintaining, repairing
and operating their water supply and sewerage systems, including over-
head expenses and proper depreciation allowance, said Mayor and Coun-
cil shall be empowered and directed to make such service rates as may be