(A) All funds received from the collection of the rates and charges provided in § 51.157 shall be deposited regularly in the Village Treasury, who shall keep the same in a fund designated “Sewer Revenue Fund”, subject to the provisions of any ordinance or indenture of mortgage authorizing and securing the issuance of mortgage revenue bonds for such system.
(B) Monies in the Fund shall be used for the payment of costs of construction, management, maintenance, operation and repair of the sewerage system and sewage pumping, treatment and disposal works, and for the payment of debt charges on bonds issued for the construction, extension and improvement of the system. Any surplus in such fund over and above the requirements previously mentioned may be used for additions, betterment, enlargement and replacement of the system and parts thereof, for the payment of such debt, but shall not be used for any other purpose which would be contrary to the purposes permitted under R.C. § 729.52.
(Ord. 78-4, passed 2-13-1978; Ord. 92-20, passed 9-28-1992)