N.Y. Gen. Mun. Law § 410

§ 410. Undertakings to be self-supporting. The governing body of a\nmunicipality issuing bonds to carry out any of the purposes of this\narticle shall prescribe and collect reasonable rates, fees, tolls or\ncharges for the services, facilities and commodities of such\nundertaking, and shall revise such rates, fees, tolls or charges from\ntime to time whenever necessary so that such undertaking shall be and\nalways remain self-supporting. The rates, fees, tolls or charges\nprescribed shall be such as will produce revenue at least sufficient (a)\nto pay when due all bonds and interest thereon for the payment of which\nsuch revenue is or shall have been pledged, charged or otherwise\nencumbered, including reserves therefor, and (b) to provide for all\nexpenses of operation and maintenance of such undertaking, including\nreserves therefor.\n