The funds received from the collection of the rates and charges hereinafter provided shall be deposited as received with the City Auditor, who shall keep the same in separate funds designated as the Sewage Disposal Operating Fund and Sewage Disposal Operating Sinking Fund. Subject to the provisions of any ordinance or indenture of mortgage authorizing the issuance of and securing mortgage revenue bonds for such system, and not withstanding the limitations imposed by Ohio R.C. Section 729.52, moneys in such Funds shall be used for payment of the cost and expenses of operation, maintenance, repair and management of the system and for payment of debt charges on bonds issued for extensions and improvements of the system, and any surplus in such funds over and above the requirements hereinbefore mentioned may be used for enlargements of and replacements to the system and parts thereof, or for any other lawful purpose or purposes.
(Ord. 87-8399. Passed 2-18-87.)