(a) Water Revenue Fund. All revenue from every source collected by the department in connection with its possession, management and control of the Water Assets of the City shall be deposited in the City Treasury to the credit of the Water Revenue Fund.
(b) Power Revenue Fund. All revenue from every source collected by the department in connection with its possession, management and control of the Power Assets of the City shall be deposited in the City Treasury to the credit of the Power Revenue Fund.
(c) Use of Funds. The money in the Water Revenue Fund and Power Revenue Fund may not be appropriated, transferred or expended for any purposes except the following:
(1) Operation and Maintenance. For the necessary expenses of operating the department, including the operation, promotion and maintenance of the Water and Power Assets for Departmental Purposes.
(2) Retirement of Indebtedness. For the payment of the principal and interest, due or coming due during the fiscal year in which the revenues are received, or are to be received, upon outstanding notes, certificates or other evidences of indebtedness issued against revenues from the Water or Power Assets or bonds or other evidences of indebtedness of the department.
(3) Development of Assets. For the necessary expenses of constructing, extending and improving the Water or Power Assets, including the purchase or condemnation of lands, water rights and other property for Departmental Purposes.
(4) Reimbursements. For reimbursement to another department or office of the City on account of services rendered, or materials, supplies or equipment furnished to support Departmental Purposes.
(5) Promotion of Business. For the promotion of any of its products or services.
(6) Promotion of Conservation. For the development, or promotion or use of systems, equipment, devices or materials by department customers that conserve utilization of water, electric energy and related departmental services.
(7) Employee Benefits. For defraying the expenses of any pension or retirement system and health or other benefits applicable to the employees of the department.
(8) Bond Reserve Funds. For establishing and maintaining a reserve fund to insure the payment at maturity of the principal and interest on all bonds now outstanding or hereafter issued for Departmental Purposes and the money set aside and placed in these funds shall remain in the funds until expended and shall not be transferred to the Reserve Fund of the City.
(9) General Fund Transfers. To be transferred to the City General Fund as provided in Section 344.