The funds received from the collection of the charges or rentals authorized by this chapter shall be deposited with the City Treasury and shall be accounted for and be known as the Sanitary Sewer Fund, and when appropriated by Council shall be available for the payment of the cost and expense of the management, maintenance and repair of the City sanitary sewerage system and the sewage pumping, treatment and disposal works. Any surplus in such Fund shall be used for the payment of the interest on bonds issued and outstanding or which may be issued to provide funds with which to pay the City's portion of the cost of constructing such sanitary sewerage system, or part thereof, and such sewage dumping, treatment and disposal works and to retire such bonds when they mature, and for the enlargement or replacement of the sanitary sewerage system, pumping, treatment and disposal works.
(1955 Code § 163.23)