A. Utility: There is hereby established a stormwater management utility within the City which shall be responsible for creating revenue for stormwater management throughout the City's corporate limits, and shall provide for the management, protection, control, regulation, use, and enhancement of stormwater systems and facilities. Such utility shall be under the operational direction of the public works director. The corporate limits of the city, as increased from time to time, shall constitute the boundaries of the stormwater utility district.
B. Enterprise Fund: The city shall establish a stormwater enterprise fund in the city budget and accounting system, separate and apart from its general fund, for the purpose of dedicating and protecting all funding applicable to the purposes and responsibilities of the utility, including, but not limited to, rentals, rates, charges, fees, and licenses as may be established by the city council. All revenues and receipts of the stormwater utility shall be deposited promptly upon receipt into the stormwater enterprise fund, to be held and invested in trust for the purposes dedicated, and expended exclusively for purposes of the utility, including, but not limited to, operational actions, capital project construction, or payment of bonds funding capital projects. No other funds of the city shall be deposited in the stormwater enterprise fund or commingled with dedicated stormwater revenues, except that other revenues, receipts, and resources not accounted for in the stormwater enterprise fund, including grants, loans, and bond proceeds, may be combined with and applied to stormwater management capital projects as deemed appropriate by the city council upon recommendation of the public works director. (2008 Code § 31-151)