(A) Replacement Fund. The sum of money designated annually for replacement costs as established by USEPA rules and regulations shall be deducted from the revenues resulting from user charges as provided for in § 50.055 and deposited in a Replacement Fund, to be used or accumulated for obtaining repair parts, replacing equipment, accessories or appurtenances during the useful life of the sewage disposal system which are necessary to maintain or regain the capacity and performance for which such equipment and plant were designed and constructed.
(B) Sanitary Sewer Fund. The sum of money received from revenues resulting from user charges as provided for in § 50.055 less replacement requirements set forth in subsection (A) hereof, shall be deposited in a Sanitary Sewer Fund, to be used for operation and maintenance of the City's sewage disposal system.
(C) Debt Service Fund. The sum of money received from revenues resulting from debt retirement charges as provided for in § 50.056 shall be deposited in a Debt Service Fund to be used to pay outstanding indebtedness incurred on behalf of the sewage disposal system. Unless the debt retirement charge fully complies with USEPA user charge requirements, moneys in this Fund shall not be used for operation, maintenance or replacement.
In no event shall any of the funds be used for any other purpose as set forth or that would be contrary to the purposes permitted under R.C. § 729.52.
(Ord. 63-90, passed 9-10-90)