The electric revenues shall be applied and used in payment of warrants and interest thereon issued in connection with operation of the system; the satisfaction of interfund loans and interest thereon authorized in connection with the operation of the system; and also in payment for alteration, improvements, additions or extensions and for redemption and retirement of outstanding electric system bonds, together with interest thereon; and shall be expended only in connection with and for improving the system; except as provided in Section 14.16.020. (Ord. 2195 § 1, amended, 1982; Ord. 2173, amended, 1982; Ord. 1854 § 2, amended, 1975)