The funds received from the collection of the stormwater utility service charges authorized by this Chapter shall be deposited daily with the City Treasurer and shall be accounted for and be known as the Stormwater Utility Revenue Fund and when appropriated by the City Commission, shall be used solely for the payment of the costs and expenses of design, coordination construction, management, operation, maintenance and replacement of stormwater management facilities, inspection and enforcement activities pertaining to the City’s stormwater system and administration of the City’s stormwater utility and any surplus in such Fund shall be used for the payment of the principal and interest on bonds issued or loans obtained and outstanding or which may be issued to provide funds with which to pay the City’s portion of the costs of constructing components of such system, and to retire such bonds or loans when they mature, and for the enlargement or replacement of the stormwater system.
(Ord. 15-164, Passed 6-9-15.)