A. There is established a fund to be designated as the “sewerage facilities replacement fund.”

B. The City Council shall set by resolution or ordinance the amount to be deposited into the sewerage facilities replacement fund. Any monies deposited shall be derived from the revenue collected from the monthly sewer service charge set forth in CVMC 13.14.110. The amount to be deposited may be a lump sum or a portion of each user’s sewer service charge.

C. Nothing herein shall be construed as superseding or conflicting with the existing sewer fund, sewer service revenue fund, or the trunk sewer capital reserve fund.

D. The fund shall be used solely for the purpose of paying the cost of refurbishment and/or replacement, in connection with the capital improvement program and with Council approval, of structurally deficient sewerage facilities, including related evaluation, engineering, and utility modification costs, unless the City Council shall, by four-fifths vote, appropriate such funds for another purpose; provided, such purpose shall be for the construction, maintenance or operation of sewers or incidental thereto, including any charge for its collection. (Ord. 3015 § 1, 2005; Ord. 2212 § 1, 1987).