§54-24  Operating expenses, reserves, andappropriations.  All receipts of the board of water supply other than fromthe sale of bonds shall be deposited daily in a bank by the board and the sumsso deposited shall be accounted for and be paid into the county treasury at theend of each month and maintained in a special fund.  The board may makeappropriations and allowances from the fund for the following purposes:

(1)  For the payment of the operating and maintenanceexpenses of the waterworks;

(2)  For repairs, replacements, additions, andextensions;

(3)  For accident reserve, pension charges, andcompensation insurance;

(4)  For payment of interest and sinking funds on allbonds issued for the acquisition or construction of the waterworks andextensions thereto and for the reserve fund. [L 1961, c 155, pt of §1; Supp,§145A-14; HRS §54-24]