A. Purpose Of Security Deposit: The security deposit shall be filed with the Village Clerk to ensure and guarantee prompt payment of the water bill for water furnished to the leased property. (Ord. 1459, 10-24-2007)
B. Definitions: Whenever used in this section, the following words and phrases shall have the meanings as described below:
LEASED PROPERTY: Any leased or rented improved property of any kind including residential, industrial or commercial facilities.
LESSEE/TENANT: An individual or other entity who leases or rents a residence, industrial or commercial facility.
C. Security Deposit:
1. Residential Unit: Prior to occupying a residential unit, the lessee or tenant shall be required to deposit the sum of two hundred fifty dollars ($250.00) with the Village Clerk.
2. Commercial Unit: Prior to occupying a commercial unit, the lessee or tenant shall be required to deposit the sum of five hundred dollars ($500.00) with the Village Clerk.
3. Industrial Unit: Prior to occupying an industrial unit, the lessee or tenant shall be required to deposit the sum of one thousand dollars ($1,000.00) with the Village Clerk. (Ord. 1461, 11-14-2007)
D. Security Deposit Fund: Any and all security deposit monies shall not be commingled with general corporate funds. A separate account shall be established reflecting receipt of any security deposit monies in accordance with section 8-1-9 of this chapter.
E. Return Of Security Deposit: The Village Clerk shall be authorized to return the security deposit monies to an owner of record of leased property upon a sale of the same.
F. Penalties: Any person found to be in violation of any provision of this section shall be fined not less than one hundred dollars ($100.00) nor more than five hundred dollars ($500.00) per offense. Additionally, the Village shall have the right to terminate water service to a rental property until there is compliance herein. (Ord. 1459, 10-24-2007)
See section 8-1-6-3 of this chapter regarding unpaid charges when ownership of property changes. (Ord. 1658, 9-11-2013)