§ 53.108  STORMWATER FUND.
   All revenues earned and fees collected under this subchapter, including interest earnings on any unused funds, shall be deposited in an account entitled "City of Vincennes Stormwater Fund" and shall be subject to the provisions of I.C. 36-9-23, as amended from time to time. Disbursements from the Stormwater Fund shall be authorized by the USB. Such disbursements shall be used exclusively for the operation, maintenance and improvement of the stormwater drainage system and the Vincennes levee system. Funds from this account shall not revert to any other city utilities or the General Fund of the city and may not be transferred for any other purpose. To the extent that there are outstanding revenue bonds of the city issued pursuant to the provisions of I.C. 36-9-23, as amended from time to time, revenues deposited in the Stormwater Fund shall be subject to the covenants contained in the ordinance or ordinances authorizing such outstanding bonds.
(Ord. 4-2010, passed 5-24-10)
Cross-reference:
   Finance and revenue, see Ch. 35