(A) The Village Clerk-Treasurer is hereby directed and authorized to take all the steps necessary or appropriate, in accordance with the O.R.C. and the State Auditor’s Office, to create a village fund to be designated the Electric Improvement Fund.
(B) The source of revenue deposited into the Electric Improvement Fund shall be 5% of each month’s electric utility customer charge collections, and said funds shall be used for the maintenance and replacement of the electric utility infrastructure.
(Res. 19-2014, passed 4-7-2014)