(A) The funds received from the use of sewers shall be deposited with the City Treasurer, and money so deposited shall be kept in a separate and distinct fund and shall be known as the Sewer Fund. When appropriated by City Council it shall be subject to the order of the Safety and Service Director, and the Auditor shall sign all orders drawn on the Treasurer against the Fund.
(B) Funds received from the use of sewers shall be used for the payment of the costs and expenses of the management, maintenance, operation, and repair of the sanitary sewerage system and sewage treatment works, and any surplus in the Fund shall be used for the enlargement or replacement of the system, and for the payment of the interest on any debt incurred for the construction of the sewerage system and sewage treatment works and for the creation of a sinking fund for the payment of the debt, but the funds shall not be used for the extension of the sewerage system to serve unsewered areas, nor for any other purpose whatsoever other than as mentioned.
(C) There shall be created a replacement, improvement, and repair account to be known as the Sewer Replacement Account, into which shall be deposited surplus funds from the Sewer Revenue Fund. These funds shall be used for the purpose of making replacements, improvements, and repairs to the existing sewerage system, and improvements, enlargements and replacements in the sewage pumping, treatment, and disposal works, upon proper authorization by Council. On March 1, June 1, September l, and December 1 of each year commencing March 1, 1985, there shall be paid from the Sewer Revenue Fund for credit to the sewer replacement account a sum equal to 5% of the sewer rental collections for the preceding quarter until a balance of $50,000 has been established in the replacement account.
(D) There shall be created a Treatment and Disposal Replacement Fund into which shall be deposited an adequate sum per year. These funds shall be used to purchase and install major equipment, accessories and appurtenance for the treatment facility during the life of the facility to maintain the capacity and performance for which it was designed and constructed. The amount deposited shall be reviewed annually by Council to ensure that sufficient funds are present to satisfy the replacement needs of the facility, and shall be adjusted accordingly.
(1982 Code, § 50.46) (Ord. 1941-5, passed 2-17-1941; Ord. 1984-50, passed 12-10-1984; Ord. 1989-12, passed 6-5-1989; Ord. 2013-2, passed 2-11-2013)