(A) That portion of the total user charge collected which is designated for operation and maintenance purposes as established by ordinance, shall be deposited in a separate nonlapsing fund known as the Operation and Maintenance Fund, and will be kept in two primary accounts as follows:
(1) An account designated for the specific purpose of defraying operation and maintenance costs excluding replacement of the treatment works (operation and maintenance account); and
(2) An account designated for the specific purpose of defraying replacement costs (replacement account).
(B) (1) Fiscal year-end balances in the operation and maintenance account and the replacement account shall be carried over to the same accounts in the subsequent fiscal year, and shall be used for no other purposes than those designated for these accounts. 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.
(2) The user charge rates shall be adjusted such that the transferred monies will be returned to their respective accounts within the fiscal year following the fiscal year in which the monies were borrowed.
(Prior Code, § 53.41)