(A) A Non-Reverting Storm Water Utility Cumulative Fund is hereby created. All proceeds received as a result of user fees and charges or penalties assessed by this subchapter or subsequent amendments hereto shall be deposited in a Non-Reverting Cumulative Storm Water Utility Fund.
(B) Proceeds from this non-reverting fund shall be for the exclusive use of the town’s storm water utility, which includes, but is not limited to, the following:
(1) Storm water management services, such as studies, design, permit review, plan preparation, and development review;
(2) Operation, maintenance, repair, and replacement of the storm water collection, storage, conveyance, and/or treatment infrastructure;
(3) Project costs related to constructing major or minor structural improvements to the town’s storm water-related infrastructure;
(4) Administrative costs associated with the management of the storm water utility user fee;
(5) Debt service financing of the town’s storm water-related capital improvements; and
(6) Funding of studies such as water quantity and quality monitoring, aerial photography, and geotechnical work associated with the planning of the storm water-related infrastructure. This would include, but not be limited to, the implementation of long range storm water plans developed and approved by the State Department of Environmental Management for elimination of combined sewer overflows and the construction of storm water drains and sewers and maintain same within the town limits and the area served by the sewage works. All such expenditures for both capital and operating expenses must be first approved by the Town Council.
(Ord. 2017-556, passed 5-8-2017)