(A) The city hereby establishes the Sanitary Sewer Fund as an income fund to receive all revenues generated by the sewer charge system, and all other income dedicated to the operation, maintenance, replacement and construction of the wastewater treatment works, including taxes, special charges, fees and assessments intended to retire construction debt. The city also establishes the following accounts as income and expenditure accounts within the Sanitary Sewer Fund:
(1) Operation and Maintenance Account;
(2) Equipment Replacement Account; and
(3) Debt Retirement Account.
(B) All revenue generated by the sewer service charge system, and all other income pertinent to the treatment system, including taxes and special assessments dedicated to retire construction debt, shall be held by the Finance Department separate and apart from all other funds of the city.
(C) Revenue generated by the sewer service charge system sufficient to insure adequate replacement throughout the design of useful life, whichever is longer, of the wastewater facility shall be held separate and apart in the “Equipment Replacement Account” and dedicated to affecting replacement costs.
(`86 Code, § 3.60)