(A) All moneys received on any special assessment shall be held by the Village Treasurer in special funds, one for each assessment, to be applied only to the payment of the improvement, or bonds and vouchers issued therefor, together with interest thereon, for which the assessment was made, and such money shall be used for no other purpose, unless to reimburse the village for money expended for such improvement.
(B) Payment on bonds or vouchers shall be made in accordance with statutes, and the Village Treasurer shall keep books and accounts in such a manner that proper prorations in payments of principal and interest can be made and ascertained.