General revenues derived from regional sewer charges shall be deposited to the credit of the Regional Sewer Reserve Fund and may be used to defray any regional expense incurred by the City, except the revenues obtained from the industrial cost recovery charges so recovered. General revenues derived from local sewer charges shall be deposited to the credit of Local Sewer Reserve Funds and may be used to defray any local expense incurred by the City and subscribing agencies, except the revenues obtained from the industrial cost recovery charges so recovered. Of the ICR, fifty percent shall be returned, at least annually, to the U.S. Treasury, together with any interest earned thereon, and forty percent shall be deposited in U.S. obligations or secunties guaranteed by the Federal government. The remaining ten percent shall be used by the City as it sees fit.
(Ord. 14-01. Passed 10-16-01.)