(A) There is created a sinking fund for the payment of the principal of, and interest on, revenue bonds which by their terms are payable from the net revenues of the sewage works, and the payment of any fiscal agency charges in connection with the payment of bonds and interest, which fund shall be designated the Sewage Works Sinking Fund (the Sinking Fund).
(B) There shall be set aside and deposited in the Sinking Fund, as available and as provided below, a sufficient amount of the net revenues of the sewage works to meet the requirements of the Bond and Interest Account and of the Debt Service Reserve Account hereby created in the Sinking Fund. Such payments shall continue until the balance in the Bond and Interest Account, plus the balance in the Debt Service Reserve Account described below, equals the amount needed to redeem all of the then outstanding bonds.
(1996 Code, § 9-94) (Ord. 89-04-05, passed 4-24-1989)