(a) The Village has determined that both the public interest and the Village policy of correcting illegal connections would be served by the transfer of fifty thousand dollars ($50,000) from the Village Sewer and Water Account into a Village Sewer and Water Sinking Fund and by the earmarking of such funds for improvements, rehabilitation, repairs and extensions of the Village sewer and water system. The Village has further determined that sufficient excess funds exist for such transfer.
(b) Therefore, there is hereby established the Village Sewer and Water Sinking Fund, and the Director of Finance is hereby authorized to withdraw fifty thousand dollars ($50,000) from the Sewer and Water Fund and place such funds in such Sinking Fund. This Fund shall be used to pay for any contingent costs which might be required to complete the policy of enforcing the Metropolitan Sanitary District of Greater Chicago (MSDGC) mandate.
(Ord. 661. Passed 10-14-85.)