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Section 2. The Parker Water Enterprise shall separately account for all income and expenditures which shall be limited to those necessary to acquire water and water rights, develop said water and water rights, treat water and deliver water and water services. Section 3. As consideration to customers for the services described in Section 2 above, the Parker Water Enterprise is hereby authorized and directed to charge fees, exactions, and to set rates sufficient to cover all costs of the acquisition, development, treatment and delivery of water or water rights to customers both within the boundaries of the Parker Water and Sanitation District and such other areas and customers as are contracted for between the Parker Water Enterprise, the Parker Water and Sanitation District, and others. Section 4. Authority is hereby specifically delegated to the Parker Water Enterprise to issue revenue bonds, which bonds shall be payable solely from proceeds and income of identified and identifiable water and water-related projects. Section 5. The Parker Water Enterprise shall have no authority to levy or collect taxes, whether said taxes be sales taxes, use taxes, or ad valorem taxes. Section 6. The Parker Water Enterprise may contract with the Parker Water and Sanitation District for the provision by the Parker Water and Sanitation District of various administrative services, and the Parker Water Enterprise may contract with the Parker Sewer Enterprise or any other government or government-owned business for any lawful purpose. Section 7. The Parker Water Enterprise shall monitor all sources of funds received by it to assure that said enterprise does not receive ten percent (10�) or more of its total funds from state or local government grants. Section 8. Al1 assets to be operated and maintained by the Parker Water Enterprise shall remain in the ownership of the Parker Water and Sanitation District. The Parker Water and Sa�itation District does hereby assign the use and management of all such assets, whether real or personal, to the Parker Water Enterprise. Section 9. The manager of the Parker Water and Sanitation District is hereby appointed the manager of the Parker Water Enterprise, and said manager shall take care of and manage all of the assets assigned to the Parker Water Enterprise for the purpose of acquiring, developing, treating and delivering water, water rights, and water services to residents of the Parker Water and Sanitation District and all other areas and customers contracted with for service by the Parker Water and Sanitation District. 2