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(a) Funds received from the collection of revenue generated by the schedule of sewer services charges in Section 1056.04 shall be deposited in a like manner as other Municipal funds and shall be accounted for and known as the Water Pollution Control and Sewer Fund (also known as the Sewer fund) and shall be held for the payment of all costs and expenses, including debt, for the operation, maintenance, replacement, repair, rehabilitation, management and administration of the Water Pollution Control Center and the public sanitary and combined sewerage system and appurtenances.
(b) The Board of Municipal Utilities shall, as part of the authority granted in Section 1056.02, promulgate rules and regulations that shall provide that the revenue generated by each increment of the consumption charge noted in Section 208.01(g)(2)B. of the Administration Code - the General Fee Schedule is used for its appropriate purpose. However, the Board of Municipal Utilities may authorize and recommend the temporary use of revenue generated by a given increment for purposes noted in subsection (a) hereof, provided that provision is made for the timely replacement of such revenue. The Director of Municipal Utilities shall recommend adjustments to the consumption charge and/or its increments noted in Section 208.01(g)(2)B. of the Administration Code - the General Fee Schedule.
(c) The Board shall have the authority to authorize and recommend the transfer of revenue collected from the schedule of sewer service charges provided for in Section 1056.04 to interest earning funds or to otherwise authorize and recommend the investment of such funds in accordance with appropriate and current procedures being followed at that time. Interest earned on such funds shall be spent for those purposes enumerated in subsection (a) hereof.
(Ord. 175-84. Passed 12-26-84.)