Water may be sold and furnished to persons at rates and charges at all times sufficient to pay operating expenses, maintenance, and principal and interest on all bonded indebtedness as the same becomes due; all water furnished shall be metered. Meters shall be installed by the Public Works Division at such cost or charge and under such regulations as may be from time to time adopted for that purpose. Water furnished to the City for fire protection purpose shall be charged for on a per hydrant basis. [Ord. 962 Art. II, § 11, 1959; Code 1970 § 13.04.020; Code 1954 § 4-3.20.]