12-631l. Same; disposition of revenues; reduction of tax levy.
12-631l
12-631l. Same; disposition of revenues; reduction of tax levy.
All revenues derived from sewage service charges shall be deposited in
the treasury and credited to a seperate fund to be known as the sewage
disposal fund and such revenues shall be used exclusively for the
administration, operation, maintenance, repair, replacement, extension,
enlargement, betterments, depreciation and obsolescence of said sewage
disposal system and may be used to pay principal of and interest on any
bonds issued on account of said sewer system, either general obligation
bonds or revenue bonds or both, except bonds issued for any such project
the cost of which is payable from special assessments, and said revenues
shall be used for no purpose other than those specified herein, and shall
not be applied to the construction or reconstruction of sewers, the cost of
which is provided by law to be paid from special assessments in a benefit
district. When any city or township sewer district has provided for sewage
service charges under this statute its power to levy tangible property
taxes for the maintenance and operation of sewers and sewage disposal
plants under authority of other statutes shall be reduced one-half (1/2)
mill.
History: L. 1953, ch. 120, § 6; June 30.