That there is hereby established for the City of Union City, Randolph County, Indiana, a “Union City Storm Water Operation and Maintenance Fund,” which shall be a non-reverting fund. All revenues and fees collected for storm water service, including but not limited to, storm water utility user fees, interest earnings on any unused funds, shall be deposited in the “Union City Storm Water Operation and Maintenance Fund.” Disbursements from this fund will be authorized by the Board. Such disbursements will be used for the operation, maintenance and improvement of the city of union city's storm water system in accordance with applicable Indiana law. Monies from this fund shall not revert to any other city utilities or city fund and may not be transferred for any other purpose, except as permitted by applicable Indiana law. The fund shall exist in perpetuity or until such time as this chapter has been repealed, at which time any monies held in said fund shall be transferred to the City of Union City's general fund after payment of any and all fees, expenses or charges that may then be owing for the operation, maintenance and improvement of the City of Union City's Storm Water System.
(Ord. 2019-10, passed 10-14-19)