Monies received from the collection of the sewer rental charge authorized by this chapter shall be deposited daily with the Director of Finance of the City, who shall keep a separate and distinct fund and account to be known as “General Sewerage and Operating Fund.” Increments collected for user charge, capital charge or other specific purposes shall be so paid or transferred to the appropriate account within the enterprise fund for the waste water treatment plan. Otherwise, such fund shall be available for the payment of debt service and of the cost of management, maintenance, operation, and repair of the sewerage system and sewage pumping, treatment, and disposal works, and any surplus in such fund in excess of any unencumbered working capital in such amount determined reasonable by the Finance Director in accordance with sound accounting procedures may be used for the enlargement, rebuilding, or replacement of the same. Of the monies collected, transferred, or retained for user charge purposes, the sum of five hundred thousand dollars ($500,000) shall be transferred or deposited to the “Replacement Fund” annually pursuant to the need projections and recommendations of the 1995 “Wastewater Treatment Plant Equipment Evaluation Study” by Michael Benza and Associates, Inc.
(Ord. 112-2000. Passed 5-15-00.)