The funds received from the collection of the rates and charges hereinafter provided shall be deposited as received with the Finance Director, 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 system, moneys in the Fund shall be used for the payment of the cost and expense of operation, maintenance, repair, and management of the system, and for payment of debt charges on bonds or notes issued in anticipation thereof, the proceeds from which are to be used for improvements of and extensions to the system. Any surplus in the Fund over and above the requirements hereinbefore mentioned may be used for enlargements of and replacements to the system and parts thereof.
(1980 Code 50.31)