(A) There is hereby established a roadway improvement reserve account into which all fees generated from the roadway degradation fee shall be deposited. The Finance Officer shall record earnings realized from the investment of the balance in the account.
(B) The Board of Mayor and Aldermen may appropriate the balance or a portion of the balance into the account during the annual budget for the purpose of roadway improvements. Roadway improvements shall include but not be limited to expenses associated with reconstruction, repaving, sidewalk construction and repair.
(C) No available funds in the roadway improvement reserve account shall be utilized for any purpose other than authorized herein without the specific approval of two-thirds of the Aldermen-Elect.
(Ord. passed 5-4-10)