§ 52.76  CONNECTION FEE ACCOUNT.
   (A)   All revenues received from connection fees and their income shall be set aside in a special account designated “City of Saugatuck water service connection fees.”
   (B)   Such revenues shall be used as follows subject to the discretion and approval of the City Council:
      (1)   To extend, enlarge, improve or maintain the water system; and
      (2)   To retire any bond indebtedness incurred by the city to improve or expand the water system.