A.
A Wastewater Treatment Department fund account is established and
is the depository for all special sewer entrance connection and impact
fees collected under the terms of this chapter. Said fund is to be
accounted as a Department-designated reserve and used solely and exclusively
towards expenses for capital improvements and repair/replacement of
capital components of the municipal wastewater treatment system.
B.
The proceeds in this fund may be expended in concert with other revenues
and planned expenditures or capital improvement funds of the Town,
but only for capital improvements to the municipal wastewater treatment
system as distinct from expenses for regular operations, maintenance,
and repair. All moneys accumulated in this fund are to be expended
by the Town for the specific purposes stated herein within 10 years
of their collection and deposit therein, or within the amortization
period of any project bond created for the same purpose(s).
