(A) There is hereby established for the town a “Rockville Stormwater Operation and Maintenance Fund”, which shall be a non-reverting fund.
(B) All revenues and fees collected for stormwater service, including, but not limited to, stormwater utility user fees, credit application fees and interest earnings on any unused funds, shall be deposited in the “Rockville Stormwater Operation and Maintenance Fund”. Disbursements from this fund will be authorized by the Town Council. Such disbursements will be used for the operation, maintenance and improvement of the town’s stormwater system, in accordance with applicable state law.
(C) Monies from this fund shall not revert to any other town utilities or town fund and may not be transferred for any other purpose, except as permitted by applicable state law.
(D) The fund shall exist in perpetuity, or until such time as this chapter has been repealed, at which time any monies held in said fund shall be transferred to the town’s General Fund after payment of any and all fees, expenses or charges that may then be owing for the operation, maintenance and improvement of the town’s stormwater system.
(Ord. 2009-738, passed 8-1-2009)