Section 101. Water Supply and Sewerage Fund

(1)- Notwithstanding anything contained in the provisions of the enactments referred to in Section 100, every local body having water supply or sewerage services or both shall have a separate fund to be called the "Water Supply and Sewerage Fund" which shall be deemed to be a local fund and to which shall be credited all moneys received by such local body for development, operation, maintenance and management of such services and also all revenues received in connection with the rendering of the aforesaid services. (2)- The moneys credited to the aforesaid fund shall be applied exclusively for the purpose of water supply or sewerage services or both, as the case may be.