The funds received from the collection of rates and charges established by the Village shall be deposited, as received, with the Clerk-Treasurer, who shall keep the same in a separate fund designated "Sewer Revenue Fund". Subject to the provisions of any ordinance or indenture of mortgage authorizing the issuance of and securing mortgage revenue bonds for the wastewater collection and treatment facilities, moneys in the Sewer Revenue Fund shall be used for the payment of the cost and expense of operation, maintenance, replacement, repair, administration and management of such facilities and for the payment of debt charges on bonds issued for extensions and improvements of such facilities. Any surplus in the Sewer Revenue Fund over and above the requirements heretofore mentioned may be used for upgrading, expansion or any replacements to the facilities and parts thereof.
(Ord. 1979-5. Passed 5-14-79.)