As the proceeds of the tax levied and imposed are received by the director of Financial and Management Services from the State Treasurer under RCW 82.44.150 the director shall pay such tax proceeds into the transit fund established by Section 6 of Ordinance M-1070 and such moneys shall be used solely for all or part of any transit expenses and costs, including the costs of acquiring, constructing, equipping for or operation of the city transit system, or including payment or securing of general obligation or revenue bonds which may be issued for public transportation capital purposes. Until withdrawn for any such purpose the moneys accumulated in such fund may be invested by the director of Financial and Management Services in any lawful manner. (Ord. M-1391 §2, 1973)