(a) It is declared necessary to establish and collect charges upon all lots, lands and premises served by or having connections with the Municipal sewerage system.
(b) All funds received from the collection of the rates and charges hereinafter provided in this chapter shall be deposited regularly with the Finance Director who shall keep the same in a separate Sewer Revenue Fund, subject to the provisions of any ordinance or indenture of mortgage authorizing and securing the issuance of mortgage revenue bonds for the system, moneys in the fund shall be used for the payment of the costs of construction, management, maintenance, operation and repair of the sewerage system and sewage pumping, treatment and disposal works and for the payment of debt charges on bonds issued for the construction, extension and improvement of the system, and any surplus in the fund over and above the requirements before mentioned may be used for additions, betterments, enlargement and replacement of the systems and parts thereof and for the payment of any interest on any debt incurred for the construction of the system or any part thereof, and for the creation of a sinking fund for the payment of the debt, but shall not be used for any other purpose which would be contrary to the purposes permitted under Ohio R.C. 729.52.
(Ord. 1733. Passed 10-5-54.)