§ 2.13. Sinking fund requirements from the operation of the waterworks system and system of sanitary sewers and sewage disposal plants.

It shall be the mandatory duty of the Council each year to apportion and have credited to the Sinking Fund of the city from the income and earnings of the waterworks, sanitary sewers and sewage disposal systems a sum equal to not less than fifty percent (50%) of the annual amounts required by law and necessary to pay the principal and interest on any waterworks, sanitary sewers or sewage disposal systems bonds voted, issued, and sold on or after January 1, 1948. Such apportionments shall be made monthly in a sum equal to not less than one-twelfth ( 1/12 ) of the amount required to be apportioned hereunder during each year and such apportionments shall continue to be made until all of the interest and principal of any such bonds shall have been fully paid or provided for. The provisions of this section shall not be construed as a pledge of the revenues referred to or as authorizing the pledge of the revenues for the payment of the interest and principal of any bonds, but shall be construed as an adopted policy of the city government providing for the apportionment of revenues derived from the operation of the waterworks, sanitary sewers and sewage disposal systems of the city and shall be subject to amendment or repeal as any other provision of this amended Charter.