That portion of sewer service charges and connection fees used for the annual acquisition, construction, reconstruction, replacement, and debt retirement of the wastewater treatment system shall be deposited into the wastewater capital recovery fund and shall be expended and invested in accordance with state and federal regulations and guidelines. All other charges and fees shall be deposited in the sewer utility fund and shall be accounted for separately. Disbursement of funds shall be for operation and maintenance expense of the entire sewerage system, capital-related expense of the collection system and other facilities exclusively serving the city service area, and interest expense on debt issued for sewage system acquisition, construction, reconstruction, or replacement. (Ord. 2282 NCS §3 (part), 2007.)