9-41 MUNICIPAL TELEPHONE SYSTEMS
MUNICIPAL TELEPHONE SYSTEMS
Power of municipality to establish and operate telephone system--Connection and
joint operation with rural telephone system.
Purchase of equipment for resale.
Revenue bonds authorized--Issuance--Sale--Segregated revenue or income.
Additional bonds authorized when original issue insufficient--Priority of issues.
Ordinance provisions for operation of system and security of bondholders.
Bondholders' statutory mortgage on telephone improvements--Disposition of
system prohibited until bonds retired.
Pledge of telephone revenues to separate fund--Separate account for bond payments
and reserve--Depreciation account and operational expenses.
Rates supervised by Public Utilities Commission--Sufficient for bond retirement
Transfer of surplus to depreciation account.
Severability of chapter and resolutions.