All revenue derived from the sale of water as herein provided shall be kept separate and apart by the Treasurer of the village from the other revenue of the village, and said moneys shall be known as the Water Fund and shall be used exclusively for Water Department purposes; that is for the maintenance, extension, improvement, and operation of said Water Department, the retirement of the Water Department bonds, certificates, and the like, and under no circumstances shall this revenue be diverted to any other purpose.
(Prior Code, § 7-1-4)