The city treasurer shall receive all such revenues from the combined waterworks and sewerage system and all other funds and monies incident to the operation of such system as the same may be delivered to him and deposit the same in a separate fund designated as the "waterworks and sewerage fund of the city of Spring Valley", and the treasurer shall administer such fund in every respect in the manner provided by the provisions of article 62 of the "revised cities and villages act", effective January 1, 1942, and all laws amendatory thereof and supplementary thereto. (1972 Code)