Acquisition and Construction of Extensions and Additions Waterworks authorizing Revenue Bonds to Provide Cost thereof

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calendar, operating or fiscal year then next ensuing, then any excess over such surplus may be transferred either to the Operation and Maintenance Account or to the Depreciation Account. Any such excess over such surplus may also be used in the pur- chase of outstanding bonds, or redemption of any bonds redeem- able prior to maturity, at a price not exceeding the then applicable redemption price, if any. No further payments need be made into the Bond and Interest Redemption Account when the funds therein equal or exceed the amount of the principal of all the bonds then outstanding and interest thereon to the maturity dates thereof. All of the funds of said several accounts shall be deposited in lawful depositories of the City and shall be contin- uously held and secured or invested as provided by the laws re- lating to the depositing, securing, and holding or investing of public funds, including particularly Chapter 9 of the Acts of 1945. In no event shall any of the revenues of said waterworks be transferred or used for any purpose not authorized by this ordinance so long as any of the bonds issued pursuant to the provisions of this ordinance shall be outstanding. The funds from the operation of the waterworks on hand on the date of issuance of the bonds herein authorized may be applied on the costs of additions and extensions to the waterworks in the event such costs shall exceed the amount now estimated, but if not so used shall be set aside in and credited to the Operation and Maintenance Account or the Depreciation Account, as determined by the Board of Public Works and Safety. M