All revenues and monies derived from the operation of the combined waterworks and sewerage system shall be held by the city collector separate and apart from his private funds and separate and apart from all other funds of the city, and all of said sum, without any deductions whatever, shall be delivered to the city treasurer not more than ten (10) days after receipt of the same, or at such more frequent intervals as may from time to time be directed by the city council. (1972 Code)