(A) After meeting the requirements of the Operation and Maintenance Fund and the Sinking Fund, any excess revenues may be transferred or credited to a fund designated the Sewage Works Improvement Fund, and this Fund shall be used for improvements, replacements, additions, and extensions of the sewage works.
(B) Monies in the Sewage Works Improvement Fund shall be transferred to the Sinking Fund if necessary to prevent a default in the payment of principal and interest on the outstanding bonds, or if necessary to eliminate any deficiencies in credits to or minimum balance in the Debt Service Reserve Account of the Sinking Fund, or may be transferred to the Operation and Maintenance Fund to meet unforeseen contingencies in the operation and maintenance of the sewage works.
(1996 Code, § 9-96) (Ord. 89-04-05, passed 4-24-1989)