(a) The revenues collected, as a result of the user charges levied for sewer service, shall be deposited in a non-lapsing fund known as the Sewer Operating Fund. A portion of the revenue shall be set aside in a separate Replacement Fund for replacement of equipment of the sewer system. The amount shall be determined once each year for the fund.
(b) Fiscal year end balances in the operating funds shall be used for no other purposes than those designated. Monies which have been advanced from other sources to meet temporary shortages in the operating funds shall be returned to their respective accounts upon appropriate adjustment of the user charge rates for operation, maintenance and replacement. The user charge rate(s) shall be adjusted such that the advanced monies will be returned to their respective accounts within six months of the fiscal year in which the monies were borrowed.
(Ord. 12-2001. Passed 9-10-01.)