(a) There shall be established a stormwater utility fund for the deposit of all fees collected pursuant to this article, for each designated stormwater management system benefit area.
(b) The stormwater utility fund shall be used exclusively to provide services and facilities related to the stormwater management program. Said funds shall only be utilized for the following expenditures, and shall be held as trust funds of the town:
(1) Operation or maintenance of storm-water management facilities constructed by the stormwater management program benefitting the town;
(2) Costs for the planning, evaluation, design, construction, and management of the stormwater management program;
(3) Administrative costs related to the management of the stormwater management program;
(4) Management services, such as permit review and planning and development review related to the stormwater management program;
(5) Debt service financing of capital improvements related to the stormwater management program.
(Ord. 2000-04, passed 8-16-00)