(A) There is established a non-reverting fund on the books and records of the city to be known as the Wayne Waste CERCLA Fund.
(B) Any monies received from the Indiana Insurance Company, or any other liability insurance carrier, whether or not those funds are paid in settlement of disputed liability or pursuant to a judgement or decree, shall be deposited in the Wayne Waste CERCLA Fund, together with any other appropriations from the General Fund of the city which may be made from time to time by the Common Council as permitted by law.
(C) Expenditures may be made from the Wayne Waste CERCLA Fund for payment of any liability of the city associated with the remedial action at the Wayne Waste site, including, but not limited to, attorney’s fees, engineering fees, bond financing costs, construction and other remedial work to be performed or paid by the city in connection with its liability as established in the Wayne Waste Consent Decree and Participation Agreement.
(D) This fund shall terminate when the city’s liability under the Wayne Waste Consent Decree and Participation Agreement have been fully and completely satisfied; and any funds remaining after satisfaction of those liabilities shall be remitted to the General Fund of the city.
(1980 Code, § 34.02) (Ord. 1991-23, passed 10-22-1991)