There is hereby established in the village a Water System Renewal and Replacement Fund. The Fund shall receive $3 per month for each water meter in the village, beginning with the January 2003 billing, and then receive $4 for each water meter per month beginning with the January 2004 billing, and then receive $5 for each water meter per month beginning with the January 2005 billing. The funds shall be used only for the repair, replacement, renewal, or improvement of the water system of the village, and the minimum disbursement from the Fund shall be $10,000.
(Ord. 1239B, passed 10-15-2002)