All facilities charges, when collected, and all moneys received from the sale of any facilities or equipment, or any byproducts, will be placed in a separate fund, and used first to pay the normal, reasonable, and current costs of operating and maintaining the facilities. The net revenues received in excess of the costs may be pledged by resolutions of the City Council, or may be used though not so pledged, for the payment of principal and interest on obligations issued as provided in M.S. § 444.075, Subd. 2, as it may be amended from time to time, or to pay the portion of the principal and interest as may be directed in the resolutions.
(Prior Code, § 51.06)