A. Revenue Disposition: All revenues accruing to the Water Fund over and above what is necessary for construction or extension of said waterworks or what may be required as mandated reserves or for revolving funds, shall on resolution passed by a majority of the members of the City Council, be paid over and credited to the sinking fund, to be used as may be provided by resolution of the City Council. (Res., 1-1-1977)
B. Water Fund: There shall be an account kept by the City Clerk-Treasurer known as the Water Fund and all receipts of the City Clerk-Treasurer arising from the sale of bonds, from the collection of water rates, from taxation for water purposes and operating such works, for the sale of such property or materials connected with the management and operation of the waterworks or any appropriation made by the City Council for the purpose of construction and extension of the waterworks, shall be placed in said Fund and all salaries and disbursements connected with the management and operation of the waterworks shall be paid out of said Fund. (Res., 1-1-1977; amd. 1999 Code)