Municipal Waterworks Revenue Bonds

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i I I • 1 • 1 special accounts shall be deposited, secured, and held or invested in accordance with the laws of the State of Indiana relating to the depositing, securing, and holding or investing of public funds, including particularly applicable provisions of Indiana Code 5-13-9, as amended. Any interest or income derived from any such investments shall become a part of the moneys in the Fund or Account so invested. Amounts in the Construction Account shall be expended only for the purpose of paying the costs of the Project herein authorized, together with the incidental expenses incurred in connection therewith and the costs of the issuance of the Bonds. Any balance or balances remaining unexpended in the Construction Account after completion of the Project, which are not required to meet unpaid obligations incurred in connection with the construction, installation, and equipping of the Project, shall be used solely for one or more of the purposes permitted under the provisions of IC 5-1-13, as amended. Section 15. Segregation and Application of Revenues; Accounts of Waterworks. The income and revenues of the Waterworks, together with the income and revenues of all extensions, additions, improvements thereto, and replacements thereof made pursuant to this Ordinance, or subsequently, shall be set aside into separate and special funds and accounts created and established herein below, to be used and applied in the maintenance and operation thereof, in establishing an improvement fund, and payment of the principal of all bonds which by their terms are payable from the Net Revenues of the Waterworks, together with the interest thereon. (a) Revenue Fund. All income and revenues of the Waterworks shall be paid into the Revenue Fund hereby created and established (the "Revenue Fund") , which fund shall be maintained separate and apart from all other bank accounts of the City. (b) Operation and Maintenance Fund. There shall be credited on the last day of each calendar month a sufficient amount of the revenues of the Waterworks so that the balance in the Operation and Maintenance Fund hereby created and established (the "Operation and Maintenance Fund") shall be sufficient to pay the expenses of operation, repair and maintenance for the then next succeeding two calendar months. The moneys credited to the Operation and Maintenance Fund shall be used for the payment of the reasonable and proper operation, repair and maintenance expenses of the Waterworks on a day-to-day basis, but none of the moneys in such Operation and Maintenance Fund shall be used for depreciation, replacements, improvements, extensions or 13