Any revenue generated from this chapter shall be applied and utilized as follows:
(A) The first seventy-five thousand dollars ($75,000.00) of revenue received under this chapter in each fiscal year shall be applied to debt service associated with the city Sewer Expansion Project.
(B) The next ten thousand dollars ($10,000.00) of revenue generated from this chapter in each fiscal year shall be utilized for the parks and recreation fund.
(C) The next eighty-seven thousand, five hundred dollars ($87,500.00) of revenue generated from this chapter shall be paid to the city’s general fund.
(D) Any funds in excess of one hundred and seventy two thousand, five hundred dollars ($172,500.00) shall be divided fifty percent (50%) to the general fund and fifty percent (50%) to the water and sewer reserve account.
(Ord. 2007-016, passed 12-10-07)