All funds and proceeds coming to the City by reason of any lease, contract or otherwise from the operation of said airport shall be paid into the General Fund of the City as available revenue for the purposes of said Fund and the operation and improvement of said airport shall be budgeted as a department of said Fund as provided by law. In the event that the City hereafter shall administer the Municipal airport as a regular department of the City as provided by ordinance, the City Council is authorized to establish a revolving fund out of the City budget and out of the receipts from the operation of said department in an amount determined by them to be reasonable and sufficient for the businesslike operation of said airport department. The profits arising from the operation of said airport department after payment of all necessary operating expenses, including improvements of the airport and the establishment of the revolving funds, shall be applied to reduce the tax levy for the budgeted Airport Fund. (1983 Code § 14-107)