A special town fund is hereby created and shall be designated as
the "Town of New Milford Sewerage System Administration Fund," which
fund shall be kept separate and apart from all other funds of the
Town. There shall be paid into such fund all charges made by the Sewer
Commission for connections with or use of the Town sewerage system
and all other funds available to pay the costs of maintaining and
operating the same, from whatever source derived, including proceeds
of insurance. The moneys in the fund shall be used solely for the
following purposes and in the following order:
(1)
To pay costs directly chargeable to the maintenance and operation
of the sewerage system.
(2)
To pay installments of principal and interest on any bonds issued
by the Town to meet the development costs of the sewerage system.
(3)
To establish such repairs, maintenance and replacement reserve
as shall be deemed advisable by the Sewer Commission.
