(A) Sewer System Improvement Fund: A service charge of three dollars ($3.00) per month per service account, payable on monthly or quarterly billing periods, is hereby established to each user of the sewage facilities to be applied to the Sewage System Improvement Fund to be used for maintenance and improvements to the City's sewer works system.
(B) Sewer Reserve And Replacement Fund: A reserve and replacement charge of four dollars ($4.00) per month per service account, payable on monthly (or quarterly) billing periods, is hereby established to each user of the sewage facilities to be applied to the Reserve and Replacement Fund to be used by the City for repair and replacement of the wastewater facilities. (Ord. 2185, 12-13-2016)
(C) Sewer Debt Service Fund: A debt service fee of twenty dollars ($20.00) per month per service account, payable on monthly (or quarterly) billing periods, is hereby established to each user of the sewerage facilities to be applied to the annual debt payment associated with the Illinois Environmental Protection Agency's loan for the in-system sewer improvements and the new wastewater treatment plant projects.
Such debt service will be put in place and will remain in effect until the annual debt associated with the IEPA loan has been repaid. The City shall annually review the debt service fee to ensure enough revenues are earned to pay the annual debt. (Ord. 2218, 2-27-2018)