(A)   There is created a special non-reverting account for the use of the Town of Beverly Shores for the purposes a water distribution system and all related expenses, the account to be a separate non-reverting fund known as the Beverly Shores water system access fee fund (access fund).
   (B)   The water system access fund is a separate, stand-alone fund, and shall be a non-reverting fund not subject to appropriations pursuant to the Indiana Code.
   (C)   (1)   Funds received by the town for the privilege of tapping into the water distribution system and related funds, including donations, shall be deposited into the fund.
      (2)   The town receives quarterly reimbursements, calculated as 50% of metered revenue less expenses, from Michigan City Department of Water Works (MCDOWW).  The installation and construction of the Town of Beverly Shores municipal water system caused damage to roads within the town. Therefore, monies recouped from MCDOWW are to be deposited  in the Beverly Shores local road and street fund instead of the Beverly Shores water system access fund.
   (D)   (1)   The Town Council establishes the initial schedule of access fees, which may be amended from time to time by the Town Council, to require receipt of a payment of $3,000 as an access fee, if received before August 1, 2003.
      (2)   After August 1, 2003, the fee will increase to $3,500 and will continue to increase annually as set forth in the Town Fee Schedule, § 10.99.
      (3)   The Clerk-Treasurer is directed to receive these payments and deposit them in the fund established hereby.
      (4)   The amount is equivalent to the average to be paid by property owners over 20 years.
      (5)   Homeowners have the option of up-sizing service, during installation, from a 3/4-inch/5/8-inch meter to a 1-inch meter at a cost determined by, and payable to, the Michigan City Municipal Water Department.
      (6)   A 1-inch meter is deemed to be useful for homes located at high elevations or for those using large quantities of water outdoors.
      (7)   Upon proper application and approval by the town, a prospective customer may have a water meter installed that is larger than 1 inch but not larger than 6 inches as long as the town, after consultation with the Michigan City Water Department, finds that there is sufficient capacity in the water system at the proposed location of the meter installation so that the water service to other town customers, both current and those that are reasonably foreseeable, will not be adversely affected.
      (8)   Payments collected would be deposited in water access fund.
      (9)   The Town Council hereby establishes an access fee, as set forth in the Town Fee Schedule, § 10.99, for the Northern Indiana Commuter Transportation District (NICTD), which owns and leases the train station to the town. The town uses a portion of the train station as a gift shop, museum and art gallery.
   (E)   (1)   The Town Council may accept and approve claims against the funds to defray costs and pay expenses incurred in relation to initial and/or all other costs of putting a water distribution system into place and into operation, and other similar or associated uses; including but not limited to, engineering fees, consulting, legal, accounting, administration, construction and/or acquisition fees, costs, charges and/or expenses, including appraisals and for other or similar expenses related to the purposes specified herein or by the donors of any specific gifts given to this fund.
      (2)   Administration costs are provided for as a legitimate expense that may be paid by the funds in this account and shall include administrative, clerical and labor costs.
      (3)   Clerical, administration and labor costs shall be evidenced by time records to show the amount of time allocated to time spent on the water system and the nature of work performed for these disbursements and outlay. The time records need not be made or kept contemporaneously, but must fairly represent and show time actually attributable to work, time and attention given to water system matters.
      (4)   These funds may also be used for the capital cost of hooking up the administration building of the Town of Beverly Shores (Town Hall building), Lituanica Park, Rebora Plaza and Four Corners to provide a drinking water connection to those sites.
      (5)   Allowance for payment of claims for administrative, clerical and labor costs is effective for time retroactive to January 1, 2004.
      (6)   The debt service fund is to be lowered by making lease payments from the Beverly Shores water system access fund, a non-reverting fund within the funds of the town as recommended by the Indiana Department of Local Government Finance (IDLGF). The lease payments from the debt service fund are to begin in 2007. At least 1 lease payment will be reserved in the Beverly Shores water system access fund.
   (F)   (1)   An accurate accounting shall be maintained for credits and approved claims as debits and maintained by the Clerk-Treasurer as an official record of the Town of Beverly Shores.
      (2)   The money shall not be commingled with other monies of the Town of Beverly Shores.
   (G)   (1)   This fund is intended to be established in accordance with the laws of the State of Indiana and the accounting directives of the Indiana State Board of Accounts, and is intended to serve as a sinking, non-reverting fund for the purposes of a water distribution system for the Town of Beverly Shores.
      (2)   The access fee is intended to be a just and equitable fee as recommended by accounting and engineering consultants.
(Ord. 03-04, passed 6-1-2003; Am. Ord. 04-05, passed 10-18-2004; Am. Ord. 06-06, passed 9-18-2006; Am. Ord. 08-04, passed 5-19-2008; Am. Ord. 11-22, passed 11-21-2011)