That all receipts from the Water Works and Sewer Departments, and which Departments are now operated as if one utility, shall hereafter constitute a separate and sacred fund, which shall be used for not other purpose than the extension, improvement, operation, maintenance, repair and betterment of said water works and sewer systems; provided, that the governing body of the city may pledge the receipts and revenues of said Departments for the purpose of making any such improvements to said water works and sewer systems, and the payment of the principal and providing an interest and Sinking Fund for any bonds issued therefor, and under such regulations as are provided by this Charter and ordinances passed in pursuance thereof.
(Adopted May 8, 1923)