Application of moneys raised from rates and rents, etc.

20. The moneys to be raised by way of rates and rents and otherwise as hereinbefore provided shall be applied by the Water Commission, firstly, in the maintenance in good order and condition and the upkeep of the waterworks; secondly, in the payment of the interest on any loan raised for their construction or repair; and thirdly, in payment of the sinking fund of such loan. Any surplus which shall arise after the discharge of all liabilities of the Water Commission shall be applied to the improvement of the Arab Ahmet and Silikdar Vakf Water Supply.