(a) Moneys received from the collection of the municipal sewer charges authorized by this chapter shall be deposited daily with the Director of Finance, who shall keep a separate and distinct fund and account to be known as the Capital Improvement Fund. One dollar of the amount assessed for 1,000 cubic feet for municipal sewer charges shall be deposited into this Fund.
(b) When appropriated by Council, such Fund shall be available for the payment of the cost and expense of:
(1) Administration, operation and maintenance of the city sewer system;
(2) The construction or reconstruction of existing portions of the city sewer system or the construction of extensions to such system; and
(3) Payment of whatever charges which reflect the city’s contribution in any governmental sponsored program designed to improve, modernize or reconstruct the city’s infrastructure system.
(Ord. 05-08, passed 2-19-2008)