Industrial cost recovery funds collected by the city will be held in federally insured, interest bearing accounts. Annually, the city will remit fifty percent (50%) of the total amount collected to the U.S. Treasury. Forty percent (40%) will be held for future grant applicable construction of sewage facilities, and ten percent (10%) may be used as the utilities commission wishes.
(Ord. 25-1987, passed 9-22-87)