(a) Replacement Fund. The sum of money designed annually for replacement costs as established by U.S. EPA rules and regulations shall be deducted from the revenues resulting from user charges and deposited in a Replacement Fund, to be used or accumulated for obtaining repair parts, replacing equipment, accessories or appurtenances during the useful life of the sewage disposal system which are necessary to maintain or regain the capacity and performance for which such equipment and plant were designed and constructed.
(b) Sanitary Sewer Fund. The sum of money received from revenues resulting from user charges shall be deposited in a Sanitary Sewer Fund, to be used for operation and maintenance of the City sewage disposal system.
(c) Debt Service Fund. The sum of money received from revenues resulting from debt retirement charges shall be deposited in a Debt Service Fund: to be used to pay outstanding indebtedness incurred on behalf of the sewage disposal system. Unless the debt retirement charge fully complies with U.S. EPA user charge requirements, moneys in this fund shall not be used for operation, maintenance or replacement.
In no event shall any of the funds be used for any other purpose as set forth or that would be contrary to the purposes permitted under Ohio R.C. 729.52.
(Ord. 106-94. Passed 3-10-94.)