(A) The user charges shall be collected and disbursed as provided by this section.
(B) The user charge system shall generate adequate annual system revenues to pay costs of operating and maintenance, including replacement, which the city may by ordinances designate or have designated to be paid by the user charge system.
(C) That portion of the total user charge collected which is to be for operation, maintenance, and replacement shall be deposited in two separate non-lapsing funds and accounts as follows:
(1) An account designated for the specific purpose of defraying operation and maintenance costs (excluding replacement) of the system (operation and maintenance amount); and
(2) After making the deposits in an account designated for the specific purpose of ensuring replacement needs over the useful life of the system (replacement account). Deposits in the replacement account shall be made monthly in the amount of $277.83 each month.
(D) Fiscal year-end balances in the operation and maintenance account and the replacement account shall be carried over to the same accounts in the subsequent fiscal year and shall be used for no other purpose than those designated for these accounts. Moneys which have been transferred from other sources to meet temporary shortages in the operation and maintenance account and the replacement account shall be returned to their respective accounts upon appropriate adjustment of the user charge rates for operation and maintenance and for replacement.
(Ord. 91-001, passed 1-15-1991)