(A) All revenues and monies derived from the operation of the water and sewer systems shall be deposited in the Combined Water and Sewage Fund. All such revenues and monies shall be held by the Treasurer separate and apart from his or her private funds and separate and apart from all other funds of the village and all of said sum, without any deductions whatever, shall be delivered to the bank not more than two working days after receipt of the same, or at such more frequent intervals as may, from time to time, be directed by the Village Board.
(B) The Treasurer shall receive all deposit slips from the water and sewer systems and all other funds and monies incident to the operation of such systems as the same may be delivered to him or her and deposit the same in the account of the fund designated as the Water and Sewage Fund of the village.
(C) The Treasurer shall administer such fund in every respect in the manner provided by 65 ILCS 5/11-129-1 et seq.
(1999 Code, § 38-4-2)