14-568.   Same; revenue, uses; sinking fund.The revenue derived from the charges for the use of the sewage disposalsystem shall be placed in the city treasury and kept in a separate fund,and shall not be paid out nor distributed except for the purpose ofoperating, maintaining and renewing the sewage disposal system and thepayment of the salaries of employees engaged in operating said sewagedisposal system, and at any time there may be a surplus in such fund, itshall be semi-annually placed in a sinking fund for the purpose of retiringthe bonded indebtedness upon said sewage disposal system not primarilypayable by special assessments against the property in a sewer district:Provided, In the event that said surplus fund shall be used to retiresuch outstanding bonds, the same shall be in addition to the money derivedby taxation for such retirement of such bonds as is now provided by law:Provided further, That when any surplus fund is not needed for any ofthe above mentioned purposes, said surplus may be merged into the citygeneral operating fund.

      History:   L. 1953, ch. 117, § 3; June 30.