(A) A Sewer Maintenance and Replacement Fund (the Fund) for the city is hereby established. All funds received for charges made under the provisions of § 50.45 shall be deposited into the Fund. The Fund shall be used for operating, maintaining, repairing, replacing, extending and improving the sanitary sewer system and the sanitation and water disposal system of the city. The Fund shall also be used to accumulate a reserve for these purposes and to provide funds for a long-range program of improvements for the city's sewer system.
(B) All revenues received will be deposited into the Sewer Maintenance and Replacement Fund and shall be invested and reinvested as permitted by law. All earnings of the Fund shall be accrued to the benefit of the Fund. Any moneys from the General Fund of the city which are being used for the purposes for which the Sewer Maintenance and Replacement Fund has been established may be applied to other purposes deemed appropriate by the Mayor as approved by the City Council.
('88 Code, § 50.02) (Ord. 1986-18, passed 10-20-86)