§ 115. Sale of Water. Water shall be sold in bulk to the several
contracting municipalities. Rates shall be fixed in such amounts that
revenue therefrom shall be at least sufficient to pay all estimated
annual costs of operation and maintenance and debt service on all
obligations issued for the purposes of a common supply, whether or not
such obligations are joint obligations. In the event that such revenues
in any year are insufficient, the excess of cost over revenues may be
apportioned to the participating municipalities and shall be assessed by
each against the real property within its boundaries.