All revenues and moneys derived from the operation of the combined waterworks and sewerage system shall be held by the Village Treasurer separate and apart from his or her private funds. All funds collected from the operation of the sewerage system shall be held separate and apart from all other funds of the village in a separate fund designated as the Sewerage Fund of the village, and said Treasurer shall administer such fund in every respect in the manner provided by the applicable provisions of Division 139 of Article II of the Illinois Municipal Code, being 65 ILCS 5/11-139-1 et seq., approved May 20, 1961, and all laws amendatory thereof and supplementary thereto and as provided in the ordinance heretofore adopted on November 7, 1977, and authorizing the issuance of $420,000 waterworks and sewerage revenue bonds of said village.
(Ord. 1984-1, passed 10-3-1983; Ord. 1984-3, passed 6-4-1984)