Section 9-714 - Service charges to pay interest and principal on bonds and to pay other costs(a) A municipal authority may set, collect, and, if necessary, modify service rates to provide funds: (1) To pay all or part of the principal and interest on bonds issued under Part II of this subtitle; and(2) To pay for the cost of maintenance, repair, and operation, including overhead expenses and depreciation allowance, of systems constructed under Part II of this subtitle.(b) The service rates shall be: (1) Chargeable against all property served by any system under the ownership of the municipal authority; and(2) Collectible against the owner of the property served, in the same manner as other debts are collectible at law.(c) The municipal authority may set:(1) The time for payment; and(2) The penalties for nonpayment.