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The proceeds of the enterprise fee shall be used to retire any outstanding bonded indebtedness or to repay the Village General Fund, if the cost of construction of the system were borne by the General Fund. Once the bonds have been retired or the General Fund repaid, any enterprise fees received shall be used solely for maintaining or making enhancements to the Cherry Street Drain System within that area defined as Cherry Street Drain Assessment District, plus those additional properties which have paid the enterprise fee pursuant to the terms of this chapter.
(Ord. 2003-3. Passed 3-10-03.)