There is hereby established a Cedar Lake Wastewater Treatment Plant (WWTP) and Sewage Works Capital Improvement Special Fund. This fund is established for the specific purpose of segregation and payment of that portion of the monthly rates collected from the owners of property served by the sewage works of the town as well as all users and rate payers of the town sanitary sewer collection system, in the amounts identified by the town financial consultants, London Witte Group, for utilization and payment of the expenses of capital improvements in the sewage works required to be constructed and completed in conformance with agreements entered into by and between the Towns of Cedar Lake and Lowell, or by and between the town with IDEM through agreed order or other administrative proceedings. The Clerk-Treasurer is directed to deposit on at least a monthly basis those funds from the rates and charges collected from the owners of property served by the sewage works of the town as well as users and rate payers of the town sanitary sewer collection system, as identified by the town financial consultants, for the specific purposes set forth herein. The Clerk-Treasurer is further directed and authorized to manage and account for the funds in the same manner as all of the funds of the town sewer utility, including accounting and investment, all in conformance with the applicable provisions of the State Board of Accounts. The Clerk-Treasurer is further directed to provide a monthly report to the Town Council of the deposits made of funds collected and paid into the Wastewater Treatment Plant (WWTP) and Sewage Works Capital Improvement Special Fund.
(Ord. 762, passed 1-25-00; Am. Ord. 793, passed 5-22-01; Am. Ord. 1149, passed 2-21-12)