N.Y. General Municipal Law § 115: Sale of Water

§ 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.