Fees deposited in fund--Purpose

The governing body shall place all fees collected pursuant to §§ 46A-10B-20 , 46A-10B-21 , and 46A-10B-22 into a storm drainage fund or other fund established pursuant to § 46A-10B-28 to be used only for the purposes provided in this chapter, and reserved for the identified drainage basin for which fees are collected. If a municipality establishes a new drainage utility pursuant to § 9-40-1 , it may transfer any funds within its control that were collected pursuant to this chapter into a separate drainage utility fund which may only be used to pay for new drainage improvements, maintenance of existing drainage improvements, and operation of the drainage utility. Source: SL 1989, ch 388 , § 29; SL 2013, ch 39 , § 1.