(A) A Wastewater System Capacity Fee Deposit Account shall be established for the deposit of all wastewater system capacity fees collected. All interest earned on the deposits of this Account shall remain in the Account and may be used in the same manner as the Account’s deposits. The Wastewater System Capacity Fee Deposit Account shall be audited and reported to the City Council consistent with the auditing of other city financial accounts.
(B) Expenditure of Wastewater System Capacity Fee Deposit Account funds by the Board shall only be upon the approval of the City Council as documented by the passage of a City Council resolution authorizing the capital project, the uses of the funds being authorized, and the amount of the funds authorized for expenditure. Nothing contained herein shall require the City Council to authorize the expenditure of Wastewater System Capacity Fee Account funds.
(Ord. 1639, passed 12-19-16)