§ 28-63. Use of moneys collected for sale of water.

All moneys collected for the sale of water and from other income shall be deposited in the city water department accounts and reported by the clerk in his monthly report. Such moneys shall be set apart and kept separate from the general revenues of the city and shall constitute funds to be drawn upon only for the payment of salaries of employees of the water department, all normal operating expenses of the water department and for extension of water service. If there should be a surplus accumulated in such funds, it may be used for paying interest on waterworks and sewer bonds and for the retirement of such bonds, and may also be used for urgent general purposes relating to the waterworks system when there is no other method provided by law for supplying the necessary funds.

(Ord. No. 604, § 30, 2-23-61; Ord. No. 799, § 30, 3-12-73)