(a) A Replacement Fund shall be established to provide funds for expenses required to furnish and install equipment, accessories and appurtenances necessary to maintain the capacity and performance of the treatment works.
(b) Annual contributions shall be made to the Fund from sewer user charge revenues. Minimum annual contribution to the Fund shall be three percent (3%) of the treatment works’ annual operations and maintenance budget. The value in the Fund shall not be below the amount of one hundred thousand dollars ($100,000.00) unless an emergency is determined and is further enacted by the legislative authorities of the City. (Ord. 4122. Passed 1-16-01.)