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En -14- E"M Section 8. The Treasurer of the City shall be custodian of the gross revenues derived from the operation of the System and shall give bond for the faithful discharge of his duties as such custodian. The amount of the bond shall at all times be at least equal to the total funds in his custody at any one time. From and after the delivery of any Bonds issued under the provisions of this Ordinance, the System shall be continuously operated as a revenue-producing undertaking. All moneys received by the Treasurer shall be deposited by him in such depository or depositories for the City as may be lawfully designated from time to time by the City Council; provided that each depository must hold member- ship in the Federal Deposit Insurance Corporation. All deposits shall be in the name of the City and shall be so designated as to indicate the particular fund to which the revenues belong. Any deposit in excess of the amount insured by the Federal Deposit Insurance Corporation shall be secured by bonds or other direct or fully guaranteed obligations of the United States of America unless invested as herein authorized. Section 9. The City covenants that it will contin- uously operate the System as a revenue-producing undertaking and will not sell or lease the same, or any substantial portion thereof, without the prior written approval of the holders of the Bonds of this issue; provided, however, that nothing herein shall be construed to prohibit the City from making such dispositions of properties of the System and such replace- ments and substitutions of properties of the System as shall be necessary or incidental to the efficient operation of the System as a revenue-producing undertaking. Section 10. Sanitation Fund. The revenues derived by the City from the operation of the System shall be paid into a special fund, which is hereby created and designated "Sanitation Fund". The revenues in the Sanitation Fund are hereby pledged and shall be applied as hereinafter specified.