The city council creates and establishes a special fund to be known and designated as the sanitary sewer utility fund. All utility service charges collected shall be deposited in this fund for the purpose of paying all or any part of the cost and expense for planning, administering, constructing, acquiring, maintaining, operating, and improving utility facilities. Moneys in this fund shall be assigned to a specific account within the utility as designated by the city council. The department of finance shall maintain a separate record of accounts showing the receipts and disbursements of each and every account assigned to this fund. (Ord. 5852 § 1, 2004.)