A. Disposition Of Revenues:
1. The revenue received by the village from the inspection fee, water connection fee, and the sewer connection fee shall be deposited into the waterworks and sewage fund of the village.
2. The revenue received by the Village from the water and sewer improvement and extension connection fee shall be used by the Village for the necessary expansion of the works of the system to meet the requirements of new or additional users thereof; such funds shall be placed until they are used, into a fund which shall be known as the Waterworks and Sewerage Improvement and Extension Fund. The monies to the credit of such fund may be invested from time to time by the Village Treasurer as provided by law. All accrued interest on any investments shall be credited to such fund.
B. Acceptance Of Dedications In Lieu Of Fees: The Village may, at the discretion of the Mayor and Village Board of Trustees, accept a dedication of construction, improvement or extension of the works of its system, or a specific sum of money to accomplish such development, in lieu of the water and sewer connection fees or the water and sewer improvements and extension fees established by this chapter. (Ord. 05-12-27, 12-19-2005)