(A) A sewer maintenance and replacement fund for the city is hereby established. All funds currently in the sewer maintenance and replacement fund shall remain in the sewer maintenance and replacement fund and shall be used for operating, maintaining, repairing, replacing, extending and improving the city-owned sanitary and storm sewer systems of the city. The fund shall also be used to eliminate indebtedness to Sanitation District No. 1 for the city's costs associated with joining the combined sanitation district.
(B) The sewer maintenance and replacement fund balance shall be invested and reinvested in such investments as permitted by law. All earnings of such fund shall be accrued to the benefit of such fund.
('71 Code, § 51.06) (Ord. 86, passed 6-9-83; Am. Ord. 91-6-5, passed 6-26-91; Am. Ord. 00-10-2, passed 10-25-00)