Section 545.303 - Water works system to be self-sustaining; payment of indebtedness; rates; separate accounts(1) The district shall charge consumers for the water furnished in amounts so that the domestic and municipal water system shall be self-sustaining. All indebtedness incurred in the acquisition, construction, maintenance, operation and disposition of the water system shall be paid from the revenues so collected and from the proceeds of the disposition of the whole or any part of the water system. The board of directors may establish rates or charges to be paid by each person whose premises are served. The rates or charges may be fixed and classified according to the type of use, according to the amount of water used and according to whether the property serviced lies within or outside the boundaries of the district.(2) The district shall establish and maintain separate accounts covering the acquisition, construction, reconstruction, maintenance, operation and disposition of the domestic and municipal water system. All moneys collected from the operation and disposition of the whole or any part of the water system shall be deposited in a special fund to be designated "Domestic Water Fund." Moneys in the fund shall be disbursed only in connection with the water system.