§ 453. Sewer rent fund. Revenues derived from sewer rents, including
penalties and interest, shall be credited to a special fund, to be known
as the "sewer rent fund." Moneys in such fund shall be used in the
following order:

1. For the payment of the costs of operation, maintenance and repairs
of the sewer system or such part or parts thereof for which sewer rents
have been established and imposed.

2. For the payment of the interest on and amortization of, or payment
of, indebtedness which has been or shall be incurred for the
construction of the sewer system or such part or parts thereof for which
sewer rents have been established and imposed (other than indebtedness,
and the interest thereon, which is to be paid in the first instance from
assessments upon benefited real property).

3. For the construction of sewage treatment and disposal works with
necessary appurtenances including pumping stations, or for the
extension, enlargement, or replacement of, or additions to, such sewer
systems, or part or parts thereof.

Such revenues from sewer rents shall not be used (1) to finance the
cost of any extension of any part of a sewer system (other than any
sewage treatment and disposal works with necessary appurtenances
including pumping stations) to serve unsewered areas if such part has
been constructed wholly or partly at the expense of real property
especially benefited, or (2) for the payment of the interest on, and the
amortization of, or payment of, indebtedness which is to be paid in the
first instance from assessments upon benefited real property.