(a) It is hereby determined and declared to be necessary to the protection of the public health, safety, welfare and convenience of the citizens of the City to establish and collect charges upon buildings and structures served by or having access to the sewerage system of the City, or benefited by the sewerage system of the City.
(b) All funds received from the collection of the rates and charges in Section 907.07 shall be deposited regularly with the Director of Finance, who shall keep the same in a separate fund designated “Sewer Revenue Fund”, subject to the provisions of any ordinance or indenture of mortgage authorizing and securing the issuance of mortgage revenue bonds for the system. Moneys in the Fund shall be used for the payment of the costs of construction, management, maintenance, operation and repair of the sewerage system and sewage pumping, treatment and disposal works; and for the payment of debt charges on bonds issued for the construction, extension and improvement of the system; and any surplus in the Fund over and above the requirements before mentioned may be used for additions, betterments, enlargements, and replacement of the system and parts thereof and for the payment of any interest on any debt incurred for the construction of such system or any part thereof, and for the creation of a sinking fund for the payment of such debt, but shall not be used for any other purpose which would be contrary to the purpose permitted under Ohio R.C. 729.52.
(c) Sewer revenue collections for the City shall be under the direction of the Director of Finance. (Ord. 14-26. Passed 5-5-14.)