(A) A Water System Capacity Fee Deposit Account shall be established for the deposit of all Water System Capacity Fees collected. All interest earned on the deposits of this account shall remain in the account and may be used in the same manner as the account's deposits. The Water System Capacity Fee Deposit Account shall be audited and reported to the board consistent with the auditing of other Rising Sun Municipal Utility financial accounts.
(B) Expenditure of Water System Capacity Fee Deposit Account funds by the Superintendent shall only be upon the approval of the Board as documented by the passage of a Board ordinance authorizing the capital project, the uses of the funds being authorized, and the amount of the funds authorized for expenditure. Nothing contained herein shall require the Board to authorize the expenditure of Water System Capacity Fee Account funds.
(Ord. 1997-6, passed 12-4-97)