All revenues earned and fees collected for stormwater service, including but not limited to, drainage service charges, permit and inspection fees, direct charges and interest earnings on any unused funds shall be deposited in an account entitled "Town Stormwater Revenue Fund", and shall be subject to the provisions of I.C. 36-9-23, as amended. Disbursements from this account shall be authorized by the Town Council. Such disbursements shall be used exclusively for the operation, maintenance and improvement of the town's stormwater system. To the extent that there are outstanding revenue bonds of the town issued pursuant to the provisions of I.C. 36-9-23, as amended, revenues deposited in the Stormwater Revenue Fund shall be subject to the covenants contained in the resolution or resolutions authorizing such outstanding bonds.
(Ord. 636, passed 3-30-2009)