(A) There is created a Storm Water Drainage Utility Fund into which all charges, when collected, and all monies received from the sale of any related facilities or equipment or any byproducts shall be placed. Such monies shall be used first to pay the normal, reasonable and current costs of operating and maintaining the facilities.
(B) (1) There is a separate fund created for Storm Water Utility user fees and storm sewer connection charges collected for properties that utilize the regional storm water pond located on Outlot A of Thorvigs Addition.
(2) A percentage of this fund will be used to reimburse the developer of Thorvigs Addition for its costs incurred in oversizing the regional storm water pond on behalf of the city.
(Prior Code, § 720.05) (Ord. 2004-07, passed 10-6-2004; Ord. 2008-12, passed 8-6-2008)