(A) All revenues earned and fees collected for stormwater service, including but not limited to, department user fees, availability fees, penalties assessed by this chapter or subsequent amendments, or interest earnings on any unused funds shall be deposited in an account entitled City Stormwater Revenue Fund and shall be subject to the provisions of I.C. 36-9-23, as amended. Funds from this account shall not revert to any other utility or the General Fund of the city and may not be transferred for any other purpose. To the extent that there are outstanding revenue bonds of the city issued pursuant to the provisions of I.C. 36-9-23, as amended, revenues deposited in the Stormwater Revenue Fund shall be subject to the covenants contained in the ordinance or ordinances authorizing the outstanding bonds. Disbursements from the Stormwater Revenue Fund shall be authorized by the City Clerk-Treasurer and, as required by law, the Common Council.
(B) These disbursements shall be used exclusively for the operation, maintenance and improvement of the city’s Stormwater Department, which includes, but is 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 and/or treatment infrastructure;
(3) Project costs related to constructing major or minor structural improvements to the city’s stormwater system;
(4) Administrative costs associated with the management of the Stormwater Department;
(5) Debt service financing of the city’s stormwater-related capital improvements; and
(6) Funding of studies such as water quantity and quality monitoring, aerial photography and geotechnical work associated with the planning of the stormwater-related infrastructure;
(Ord. 07-07, passed 5-14-2007; Ord. 07-08, passed - - ; Ord. 2015-01, passed 1-26-2015)