The city shall receive and account for all connection charges collected under provisions of § 30.107, as provided by law for public funds, keep same in a separate bank account independent of any funds, keep same in a separate bank account independent of any fund or account required by revenue bond ordinances, and may use such funds to build extensions and improvements to sewer lines, plants and equipment, and to purchase lands, fixtures, vehicles and machinery needed to operate the city and to call all or part of outstanding utilities revenue bonds of the city, for the purchasing of any such bonds offered for sale on the open market.
(Ord. 25-1987, passed 9-22-87)