§ 33-107. Distribution of revenues and utilization of funds.

(a)

Funds shall be established for the proper distribution of sewer revenues. Such funds shall include, but not be limited to; the following:

(1)

Sewer system operations and maintenance fund;

(2)

Sewer system replacement and extension fund; and

(3)

Sewer system debt retirement fund.

(b)

Service revenues shall be distributed to the funds identified in subsection (a) in the following proportion:

(1)

The applicable portion of the sewer user charge revenues shall be allocated to the sewer system operations and maintenance fund;

(2)

The applicable portion of the sewer user charge revenues shall be allocated to the sewer system replacement and extension fund; and

(3)

The applicable portion of the sewer user charge revenues shall be allocated to the sewer system debt retirement fund.

(c)

The sewer system operations and maintenance fund shall be utilized for personal services and operational expenses associated with the provision of sewer system services. The sewer system replacement and extension fund shall be utilized for equipment replacement expenses associated with the provisions of sewer system services. The sewer system debt retirement fund shall be utilized in servicing the debt of retirement of sanitary sewer bonds.

(Ord. No. 3003, § 1(Exh. A), 9-27-16)