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manner as any other revenue derived from the operation of the System. Nothing herein however shall be construed as requiring the City or any department, agency or instrumentality thereof to avail itself of the facilities or services afforded by the System. 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 and shall be approved by the City Council and the Trustee. All monies 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, but which must hold membership 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 funds to which the revenues belong. Section 9. Water and Sewer Fund. All revenue derived from the operation of the System shall be paid into a special fund, which is hereby created and designated "Water and Sewer Fund." The revenues in the Water and Sewer Fund are hereby pledged and shall be applied to the payment of the principal of and interest on the bonds, to the payment of reasonable and necessary expenses of operation and maintenance of the System, to the providing of the Depreciation Fund, and otherwise as in this Ordinance expressly authorized. Section 10. Water and Sewer Refunding Bond Fund. (a) There shall be transferred from the Water and Sewer Fund into a special fund which is hereby created and designated "Water and Sewer Refunding Bond Fund" (the "Bond Fund") the sums in the amounts and at the times hereinafter stated in subsection (b) for the purpose of providing funds for the