(A) Pursuant to I.C. 8-1.5-5-8, I.C. 8-1.5-5-9 and I.C. 8-1.5-5-11, the Board established with the Clerk-Treasurer of the town a special Department Fund. Within this Fund, the Board shall maintain an “Operation and Maintenance Account”, a “Depreciation Account”, a “Surplus Account” and such other accounts as are from time to time necessary for the operation of the Department and district. The Fund shall be maintained separately from the town’s General Fund and shall not revert to the town’s General Fund.
(B) All user fees, including interest and penalties, together with such other sums collected by the Department shall be deposited in the Fund. All disbursements from the Fund shall be authorized by the Board, appropriated by the Town Council and used exclusively for the operation, maintenance and improvement of the town’s stormwater including, but not limited to, the following:
(1) Stormwater management services, such as studies, design, permit review, plan preparation and development review;
(2) Operation, maintenance, repair and replacement of the stormwater collection, storage, conveyance or treatment infrastructure;
(3) Project costs related to constructing major or minor structural improvements to the town’s stormwater system;
(4) Administrative costs associated with the management of the Department;
(5) Debt service financing of the district’s stormwater-related capital improvements, if any;
(6) Funding of studies, such as water quality, aerial photography and geotechnical work associated with the planning of stormwater-related infrastructure; and
(7) Implementation of any Stormwater Management Plan (SWMP) developed and approved by the state’s Department of Environmental Management for compliance with state and federal statutes.
(Ord. 2012-1, passed 7-24-2012)