(A) The revenues collected as a result of the user charges levied shall be deposited in a separate non-lapsing fund known as the Operation, Maintenance and Replacement Fund.
(B) Fiscal year-end balances in the Operation, Maintenance and Replacement Fund shall be used for no other purposes than those designated. Monies which have been transferred from other sources to meet temporary shortages in the Operation, Maintenance and Replacement fund shall be returned to their respective accounts upon appropriate adjustment of the user charge rates for operation, maintenance and replacement. The user charge rate(s) shall be adjusted such that the transferred monies shall be returned to their respective accounts within six months of the fiscal year in which the monies were borrowed.
(C) The city shall maintain financial records to accurately account for revenues generated by the treatment system and expenditures for operation and maintenance of the system, including normal replacement costs.
(D) The city shall review, not less often than annually, the wastewater contributions of users, the total cost of OM&R of the wastewater works, debt service obligations, and user charge rates. Based on such review, the city shall revise, when necessary, the schedule of user charge rates to accomplish the following:
(1) Maintain an equitable distribution of OM&R costs among users of the treatment system; and,
(2) Generate sufficient revenues to offset costs associated with the proper operation, maintenance, and replacement of the system and to meet debt service requirements.
(3) Excessive strength surcharge rates shall be reviewed at the time of, and in conjunction with, the review of the user charges. Surcharge rates shall be revised, where necessary, to reflect the current treatment and monitoring costs of the system.
(4) Each user shall be notified, at least annually, in conjunction with a regular bill of the rate and that portion of the total charge which is attributable to OM&R of the wastewater system.
(Ord. 584, passed 5-23-95; Am. Ord. 628, passed 6-24-97; Am. Ord. 650, passed 6-23-98)