(A) The Board of Trustees of the village does herewith create a Capital Improvement Fund to be administered by the Treasurer of the village in the same manner as the Treasurer administers other monies of the village, the security of which said Fund shall be under appropriate bond of the Treasurer of the village.
(B) All water and sewer connection fees and charges collected hereunder shall be kept by the Treasurer in the Capital Improvement Fund.
(C) The Capital Improvement Fund shall be used only for the construction of improvements to sewage system and components like lift stations and monitors and the interceptor or main lines of the sewer system and water system as it is now or will in the future be constituted; provided, however, that in the event bonds are in the future issued by the Board of Trustees of the village for the installation of the capital improvements above described, whether the bonds be issued after referendum, by order of a court of competent jurisdiction or by order of an administrative agency of the state, these said bonds and interest accruing thereon can, from time to time, be retired by the funds available in said Capital Improvement Fund by resolution of the Board of Trustees of the village.
(D) No permit shall be issued for connection of any structure to be public sewer system until the village sewer connection fee and the applicable SCWRD sewer connection fee is paid for each premises. This fee shall be in addition to any fee or deposit required for breaking the surface of streets or other public ways.
(2009 Code, § 39-1-5)