(a) There is hereby created a fund to be known as the Underground Storage Tank Financial Responsibility Trust Fund. A deposit will be made into the fund and that balance will remain in the fund for the purposes described in subsection (b).
(b) The fund is dedicated by the City of Willoughby Hills to pay for the costs of third- party damages and corrective actions necessary to clean up a petroleum release from an Underground Storage Tank (UST). The dedicated fund must be equal to the amount of the City’s deductible amount with the Petroleum UST Release Compensation Fund
(Ord. 1998-63. Passed 10-8-98.)