(a) There is hereby created a fund to be known as the ECTW Assessment Area "C" Enterprise Fund. Funds received by the City as a result of fees, grants, loans, and other legally approved transfers or appropriations for the ECTW Assessment Area "C" Sanitary Sewer Program together with all other sources of revenue attributable to the Fund or approved by Council shall be paid into this fund.
(b) Expenditures shall be made from the ECTW Assessment Area "C" Fund to pay for engineering, contracting, easements, and all other legally approved expenditures deemed necessary for the construction of the ECTW Assessment Area "C" Sanitary Sewer Program with said expenditures to be recommended and approved by the Mayor and Finance Director or their designated alternatives.
(c) The Director of Finance is hereby authorized and directed to make application to the Bureau of Inspection for approval of the creation of the Euclid Creek Tributary Watershed (ECTW) Assessment Area "C" Enterprise Fund.
(Ord. 2009-28. Passed 4-9-09.)