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There is hereby established a fund, to be known as the "environmental liability fund", which fund will be administered by the director of finance. In addition to any other monies appropriated by the city council to the fund, the following amounts will be deposited in the fund:
A. Monies received from commercial solid waste collection enterprises pursuant to the terms of any exclusive or nonexclusive franchise agreement between the city and such enterprise, which monies are specifically designated for payment into the fund.
B. Monies received from persons in the city conducting business of a nature which creates an actual or potential environmental threat, and where payments to the fund by proprietors of such businesses are required by the terms of an agreement, or by ordinance or resolution of the city council.
C. All interest earned upon money deposited in the fund. (Ord. 95-O-2231, eff. 3-10-1995)