The City Council shall appropriate revenue from the Fund to retire bonds, provide construction, repair, operation and maintenance of the city waterworks, and may transfer any excess net revenues into a fund for extensions, betterments and additions to the waterworks. No such transfer shall be made, however, which will interfere with the required monthly payments of the waterworks sinking fund or with the operation of the works. All revenues derived from the operation of the waterworks and from the collection of waterworks rates and charges shall be segregated and kept in a special fund and in a separate bank account, separate and apart from all other funds of the city. When all bonds payable from the revenues of the waterworks have been redeemed or retired and fiscal provisions for all waterworks operations and maintenance have been established, revenues may be transferred to the city’s General Fund by the City Council.
(Prior Code, § 62-33)