Funds generated for the Stormwater Utility Management Program from fees, bond issues, other borrowing, and other sources shall be utilized only for those purposes for which the Program has been established, including but not limited to: planning; acquisition of interest in land including easements; design and construction of facilities; maintenance of the stormwater utility system; billing and administration; and water quantity and water quality management, including monitoring, surveillance, private maintenance inspection, construction inspection, and other activities which are reasonably required. Such funds shall be invested and reinvested pursuant to the same procedures and practices established by the town for investment and reinvestment of funds. The Town Council may use any form of borrowing authorized by the laws of the state to fund capital acquisitions or expenditures for the Stormwater Utility Management Program.
(Ord. 21059, passed 8-10-21)