All charges collected under the terms of this chapter shall be deposited in a special fund to be known as the sewage disposal fund, and the moneys in said fund shall be used by the city of North Bend for the payment of principal and interest on sewer bonds of the city for the repair, maintenance and operation of the North Bend sewage system and treatment plant for the replacement and treatment or reconstruction of any part of said sewage or new sewage disposal facilities. (Ord. 1447 § 1, 1972; Ord. 1104 § 16, 1958)