A separate fund is hereby created, known as the Drainage Utility Fund, for the purpose of segregating, identifying, and controlling all revenues and expenses attributable to the drainage utility. All drainage utility fees shall be deposited as collected and received into this fund and shall be used exclusively for drainage cost of service. The utility revenues may be used for the operation, planning, engineering, inspection, construction, repair, maintenance, improvement, reconstruction, administration, debt issuance cost and debt service, and other reasonable and customary charges associated with the operation of a drainage utility system. It shall not be necessary that the expenditures from the drainage utility fund for any authorized purpose specifically relate to any particular benefitted property from which the revenues were collected.
(Ord. 100921-A, passed 9-21-2010)