(A) A non-reverting stormwater utility cumulative fund is hereby created. All proceeds received as a result of user fees and charges or penalties assessed by this subchapter or subsequent amendments hereto shall be deposited in a non-reverting cumulative stormwater utility fund. Proceeds from this non-reverting fund shall be for the exclusive use of the city's stormwater utility which includes, but is not limited to, the following:
(1) Stormwater management services, such as studies, design, permit review, plan preparation and development review.
(2) Operation, maintenance, repair and replacement of the stormwater collection, storage, conveyance, and/or treatment infrastructure.
(3) Project costs related to constructing major or minor structural improvements to the city's stormwater related infrastructure.
(4) Administrative costs associated with the management of the stormwater utility user fee.
(5) Debt service financing of the city's stormwater related capital improvements.
(6) Funding of studies such as water quantity and quality monitoring, aerial photography, and geotechnical work associated with the planning of the stormwater-related infrastructure.
(B) This would include but be not limited to the implementation of long range stormwater plans developed and approved by the Indiana Department of Environmental Management for elimination of combined sewer overflows and the construction of stormwater drains and sewers and maintain same within the city limits and the area served by the sewage works. All such expenditures for both capital and operating expenses must be first approved by the Board of Public Works and Safety.
(Ord. 3456, passed 12-19-05)