(A) The city establishes a Sewer Service Fund as an income fund to receive all revenues generated by the sewer service charge system, and all other income dedicated to the operation, maintenance, replacement, and capital recovery costs of the wastewater treatment works, including taxes, special charges, fees, and assessments. The city also establishes the following accounts as income and expenditure accounts within the Sewer Service Fund:
(1) Operation and Maintenance Account; and
(2) Capital Recovery Account.
(B) All revenue generated by the sewer service charge system and all other income pertinent to the treatment works shall be held by the Clerk-Treasurer separate and apart from all other funds of the city. Funds received by the Sewer Service Fund shall be transferred to the operation and maintenance account and the Capital Recovery Account in accordance with state and federal regulations and the provisions of this chapter.
(C) Revenue generated by the sewer service charge system sufficient for operation and maintenance shall be held separate and apart in the Operation and Maintenance Account. Interest income generated by the Operation and Maintenance Account shall remain in the Operation and Maintenance Account.
(D) Revenue generated by the sewer service charge system for capital expenditures shall be held separate and apart in the Capital Recovery Account. Interest income generated by the Capital Recovery Account shall remain in the Capital Recovery Account.
(Prior Code, § 3.20)