A. There is hereby created a fund which shall be known as the “stormwater management utility fund.” All revenues, assessments, and other charges collected by the utility, or otherwise received for drainage purposes or attributable to the operation and maintenance of the utility, and all loans to or grants or funds received for its construction, improvement and operation, shall be deposited in the stormwater management utility fund. All disbursements for costs of data collection, applicable drainage and flood control district assessments, planning, designing, constructing, acquiring, maintaining, operating, and improving the drainage utility facilities, whether such facilities are natural, constructed or both, and administering the utility shall be made from the stormwater management utility fund.

B. The city may create, at such time or times as it deems appropriate, any other funds necessary to the administration of the stormwater management utility and may designate the revenues to be placed therein and the purpose or purposes of such funds which may be the same as one, some or all of the purposes designated in this section as the purposes of the stormwater management utility fund created herein, and such purposes shall then be transferred to such newly created fund. (Ord. 016/2021 § 2; Ord. 1102, 1996)