(A) A separate fund is established to be known as the Storm Water Drainage and Retention Review Fee Fund.
(B) The source of funds deposited into this account will be monies collected from sites which require assessment for storm water drainage and retention.
(C) This fund shall be a non-reverting fund, and shall be used to support expenses incurred by the city from the engineering firm which is under contract with the city.
(D) It is not anticipated that there will be any residual amounts left in this account, since all monies received are anticipated to be disbursed in order to satisfy the expenses. If at any point in time this fund is to be terminated, then any residual amounts not spent or incumbered shall be transferred to the city General Fund.
(E) The funds in this account may be spent without specific appropriation, since the expenditures shall be directly tied to the receipts.
(`81 Code, § 32.21) (Ord. 94-2135, passed 4-4-94)