At least 20% of revenues and moneys received for the wastewater collection system shall be deposited quarterly and maintained in a separate interest-bearing sewerage account entitled the “sewerage system improvement and replacement account” (replacement cost divided by total operation, maintenance, replacement and debt service cost). Funds from the account shall be used only for nonroutine, major, long-term improvement, repair, replacement or expansion of the sanitary sewerage system of the city. The use of the funds for a specific major improvement, repair, replacement or expansion of the sewerage system shall be considered first by the Board of Local Improvements on the basis of information provided by the City Engineer and other sources. On the affirmative vote of a majority of the members of the Board, a recommendation to adopt a specific sanitary sewerage system project will be made to Council. Council will, after holding a public hearing, vote on whether to adopt or deny the project or to refer the matter back to the Board for further consideration.
(2000 Code, § 13.08.070)