(a) The funds received from the collection of the charges or rentals authorized by this chapter shall be deposited with the City Treasury and shall be accounted for and shall be known as the Sanitary Sewer Fund, and subject to the provisions of any ordinance or indenture of mortgage authorizing the issuance of and securing mortgage revenue bonds for the sanitary sewerage system of the City, when appropriated by Council, shall be available for the payment of the cost and expense of the management, maintenance and repair of the City sanitary sewerage system and the sewage pumping, treatment and disposal works. Any surplus in such fund shall be used for the payment of the interest on bonds issued and outstanding or which may be issued to provide funds with which to pay the City's portion of the cost of construction of such sanitary sewerage system, or parts thereof, and such sewage pumping, treatment and disposal works and to retire such bonds when they mature, and/or for the enlargement or replacement of such sanitary sewerage system, pumping, treatment and disposal works, or for the creation of a sinking fund for payment of such debt.
(b) A replacement fund shall be established to provide funds for expenses required to furnish and install equipment, accessories or appurtenances necessary to maintain the capacity and performance of the treatment works.
(Ord. 82-211. Passed 12-13-82; Ord. 91-32. Passed 3-11-91.)