(Added by Ord. No. 162,864, Eff. 11/22/87.)
Upon the issuance of the City’s Wastewater System Revenue Bonds, the sewer service charges will be pledged as security for such bonds as provided in the Wastewater System Revenue Bonds General Resolution to be adopted by the City Council. Any sewer service charges which, pending transfer to the Sewer Construction and Maintenance Fund, are held in the Water Revenue fund are, nevertheless, subject to such pledge and such sewer service charges are impressed with trust as security for the Wastewater System Revenue Bonds provided that such charges may be used to pay refunds and to provide for the expenses of the Department of Water and Power associated with the billing, collection and administrative costs related to the sewer service charge.