§ 530.080. Fund.

A. 

No individual repair shall be charged against the fund in an amount in excess of thirty-four hundred dollars ($3,400.00). Any costs in excess of this amount shall be the responsibility of the property owner.

B. 

The City will invest the money collected for this fund until needed. Any interest earned shall be added back into the fund. The money in this fund is dedicated for the sole use of eligible sewer lateral repairs as described in this document and in accordance with Section 249.422, RSMo., and Section 249.423, RSMo. Reimbursements to homeowners will be based on a first come first served basis. Reimbursements shall not exceed the amount in the fund at any time. If the fund becomes insolvent during any calendar year the homeowner must wait for reimbursement out of the next year's fund revenue.

C. 

The Board of Aldermen may periodically amend these guidelines in the best interest of the City and its homeowners as allowed by State law.

Ord. No. 2001-1225 §1, 10-16-2001