393.849. Excess revenues.

MISSOURI STATUTES AND CODES

Excess revenues.

393.849. Revenues of a nonprofit sewer company for any fiscal year inexcess of the amount thereof necessary:

(1) To defray expenses of the company and of the operation andmaintenance of its facilities during such fiscal year;

(2) To pay interest and principal obligations of the company comingdue in such fiscal year;

(3) To finance, or to provide a reserve for the financing of, theconstruction or acquisition by the company of additional facilities to theextent determined by the board of directors;

(4) To provide a reasonable reserve for working capital;

(5) To provide a reserve for the payment of indebtedness of thecompany maturing more than one year after the date of the incurrence ofsuch indebtedness in an amount not less than the total of the interest andprincipal payments in respect thereof required to be made during the nextfollowing fiscal year; and

(6) To provide a fund for education in the effective use of servicesmade available by the company;

shall, unless otherwise determined by a vote of the members, be distributedby the company to its members as patronage refunds prorated in accordancewith the patronage of the company by the respective members paid for duringsuch fiscal year.