Revenue received from the collection of the rates and charges provided in Section 1064.18 shall be deposited regularly with the Village Clerk-Treasurer, who shall keep the same in a separate fund designated the Storm Drainage Revenue Fund. The moneys in this fund shall be used for the cost and expense of the operation, maintenance, repair, replacement, new construction and management of the public Storm Drainage System. Additionally, moneys from this fund may be used for debt service related to the borrowing of funds for improvements to the storm water drainage system and for construction elements directly related to same. Any surplus in the fund generated by user fees shall be deposited and used in accordance with Ohio R.C. 729.52. When appropriated by Council, the fund shall be subjected to the order of the Village Planning Commission. The Chairman of the Village Planning Commission shall sign all orders drawn on the Clerk-Treasurer of the Municipality against such fund.
(Ord.38-97. Passed 10-20-97)