There is hereby created a fund to be known as the Operation and Maintenance Fund, to which fund there shall be credited as of the last day of each calendar month a sufficient amount of the revenues of the sewage works so that the balance in the fund shall be sufficient to pay the expenses of operation, repair and maintenance for the then next succeeding 2 calendar months. The moneys credited to this fund shall be used for the payment of the reasonable and proper operation, repair and maintenance expenses of the sewage works on a day-to-day basis but none of the moneys in the fund shall be used for depreciation, replacements, improvements, extensions or additions. Any balance in the fund in excess of the expected expenses of operation, repair and maintenance for the next succeeding month may be transferred to the Sewage Works Sinking Fund if necessary to prevent a default in the payment of principal or interest on the outstanding bonds.
(1982 Code, § 14-19)