(A) There is now established a Sewage Collection Improvement Fund and a Storm Collection Improvement Fund.
(B) The source of revenue in the Sewage Collection Improvement Fund shall be a loan from the town General Fund and the Albany C.C.I. Fund, along with any grants and a U.S.D.A. Rural Development loan. Interest may be earned on the account.
(C) The source of revenue in the Storm Collection Improvement Fund shall be a loan from the town General Fund and the Albany C.C.I. Fund, along with any grants and a loan from the Community Facility Program. Interest may be earned on the account.
(D) The purposes of the two funds shall be to pay the various expenses for the project. These funds shall be paid out after approval of the Town Council.
(Ord. 2000-8, passed 7-10-00)