13-2408.   Deposit and use of revenue; transfer of moneys, when.All revenues derived from the sale and consumption of water and from themanagement and operation of waterworks, shall be deposited, daily, in thecity treasury to the credit of the waterworks department, and be kept in aseparate fund, to be known as the waterworks department fund; and suchrevenues shall be used exclusively for the operation, maintenance, renewaland extension of the waterworks and in paying off the bonded indebtednesscreated for the purchase price thereof, or interest charges on suchindebtedness and for no other purpose, except, it shall be lawful for theboard of commissioners in cities of the first class having a population ofless than twenty-five thousand (25,000), and which has adopted the commission-managerform of government, to use any surplusthat may accumulate in said fund for the purpose of purchasing equipmentand appliances for the fire department of such city. In cities of the firstclass having a population ofmore than one hundred twenty-five thousand (125,000) and less than one hundred sixtythousand (160,000) the governing body thereof may transfer funds from thewater department to pay the pensions of former employees of the water department.

      Any member of the board of commissioners who shall vote for, or aid, inthe transfer or use of such revenues for any private purpose or for anyother department of the city government, except as herein provided, shallforfeit his or her office and be liable on his or her official bond forsuch misappropriation.

      History:   L. 1907, ch. 114, § 105; L. 1915, ch. 132, § 1; R.S. 1923, §13-2408; L. 1933, ch. 40, § 1 (Special Session); L. 1935, ch. 117, § 1;L. 1937, ch. 141, § 1; L. 1949, ch. 155, § 1; L. 1951, ch. 165, § 1; L.1957, ch. 88, § 15; L. 1976, ch. 91, § 1; July 1.