All income and revenue derived from or obtained in the course of the operation of the Division of Utilities of the City shall be placed to the credit of the Water Fund, out of which all the costs and expenses of the operation of the Division of Utilities shall be paid, and annually there shall be paid from the Fund into the Sinking Fund of the City, an amount sufficient to pay the interest and Sinking Fund charges on bonds which have been or may be issued under authority of ordinances which provide that the interest and Sinking Fund charges on those bonds shall be paid out of the income or revenues of the Division of Utilities. There shall also be paid out of the Funds, any other and further items as may be properly charged pursuant to law against the income and revenue of the Division of Utilities.
(1987 Code 50.08)