(A) The Department shall be administered and controlled by a Board of Directors consisting of three directors.
(B) The terms of the individual directors to serve on the Department shall be staggered. The term of the first director shall end on December 31, 1994; the term of the second director shall end on December 31, 1995; and the term of the third director shall end on December 31, 1996. All successor terms will be for a period of three years. Not more than two directors shall be from the same political party.
(C) The Board has the powers and duties prescribed by I.C. 8-1.5-3-4(a) and 8-1.5-5-6.
(D) The Board, after approval by the City Council in ordinance form, may:
(1) Assess and collect user fees from all of the property of the storm water district for the operation and maintenance of the storm water system;
(2) Issue and sell bonds of the district in the name of the municipality for the acquisition, construction, alteration, addition, and extension of the storm water collection and disposal system or for the refunding of any bonds issued by the Board;
(3) Levy a special benefit tax upon all of the property of the storm water district in an amount necessary to meet and pay the principal of any bonds issued as they severally mature, together with all accruing interest; and
(E) User fees shall include, but not be limited to, bonds, service rates, revenue bonds, or any other available funds.
(Ord. 4-1994, passed 4-19-1994)