There is hereby created a special fund to be designated as the Sewage Works Fund (commonly known as the Sewer Fund). All service charges and fees received and collected pursuant to the provisions of section 10-2-6-4 of this chapter, all connection fees received and collected pursuant to the provisions of section 10-2-6-3 of this chapter, and all monies and receipts from contract charges or from any other source as provided by the provisions of this chapter shall be deposited to the credit of the Sewage Works Fund and such monies are hereby set aside and perpetually appropriated for, and shall be expended only for, the payment of:
A. Costs and expenses of maintenance, operation, replacement and repair of the wastewater system;
B. Constructing and extending a wastewater system consisting of, but not limited to, sewers, trunks and lines, manholes, pumps, related structures and appurtenances, and facilities for the treatment and disposal of sewage, wastewater and other matter;
C. The retirement of debt incurred in the construction and operation of the City sewer system; and
D. Expenditures and uses authorized by the Idaho Revenue Bond Act. (1952 Code § 8-11-01.08)