(A) A Sewer Maintenance and Replacement Fund (the "Fund") for the City is hereby established. All funds received for charges made under the provisions of § 52.16 shall be deposited into the Fund. The Fund shall be used for operating, maintaining, repairing, replacing, extending and improving the sanitary sewer system and the sanitation and storm water disposal system of the city. The Fund shall also be used to accumulate a reserve for those purposes and to provide funds for a long range program of improvements for the City's sewer system and to reduce the cost of joining a combined sanitation district.
(B) All revenues received will be deposited into the Fund and shall be invested and reinvested as permitted by law. All earnings of the Fund shall be accrued to the benefit of the Fund. Any monies from the general fund which are being used for the purpose for which the foregoing Fund has been established may be applied to other purposes deemed appropriate by the Mayor as approved by the city council. (Ord. 92-0602, passed 6-15-92)