(A) There is hereby established a Sewage Utility Construction Fund 0609 for the purpose of accounting for the receipts and disbursements of the bond proceeds for the construction of certain additions and improvements to the sewage works and sanitary storm sewer of the city’s Sanitary District.
(B) Monies deposited in said Fund shall be used for the purposes described in the reports containing project specifications and as approved by the city’s Sanitary District Board of Commissioners,
(C) Monies from said Fund may be disbursed only on approved claims allowed by city’s Sanitary District Board of Commissioners.
(D) Said fund shall be perpetual in nature; however, should the Fund terminate for any lawful reason, any balance of said Fund shall be disbursed as lawfully allowed.
(Ord. 14-0021, passed 8-11-2014)