Sec. 12. The authority shall, if appropriate, require a participant receiving a loan or other financial assistance from the water infrastructure assistance fund to establish under applicable law and maintain sufficient user charges or other charges, fees, taxes, special assessments, or revenues available to the participant to:
(1) operate and maintain its water system or wastewater collection and treatment system; and
(2) pay the obligations of its water system or wastewater collection and treatment system, including all debt service associated with financial assistance from the water infrastructure assistance fund.