§ 22-60. Administration account.

Latest version.

A special account is hereby established which shall be designated as the "Sewerage System Administration Account." There shall be paid into such account 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 account shall be used solely for the following purposes:

(a)
To pay costs directly chargeable to the maintenance and operation of the sewerage system.

(b)
To establish such repair, maintenance and replacement reserve as shall be deemed advisable by the Sewer Commission.

(c)
To pay installments of principal and interest on any bonds or notes issued by the Town to meet the development costs of the sewerage system.

Ord. of 8-8-1983, § 9

                    
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