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Section 4. That there is hereby established a Silt Retention Basin Fund ("Fund"), which <br /> shall be used only to pay for maintenance or repair of the basin in accordance with the provisions <br /> of this Ordinance. There shall be deposited in the Fund, from time to time, such amounts as are <br /> necessary to maintain a minimum balance therein of Sixty T'housand Dollars ($60,000.00). <br /> Section 5. (a) That the Committee is hereby authorized to approve and execute contracts <br /> for the repair and maintenance of the basin on behalf of the City of Decatur without further <br /> action by this Council and in accordance with subsection (b) hereof, provided that such contract <br /> is approved by the affirmative vote of not fewer than three (3) members of the Committee and is <br /> not for an amount in excess of Sixty T'housand Dollars ($60,000.00). <br /> (b) Contracts for the repair or maintenance of the basin may be approved by the <br /> Committee,but only subject to the following conditions: <br /> (i) the City's Water Management Department has been <br /> given not less than thirty (30) days notice of the subject matter of the repair <br /> or maintenance contract prior to the approval thereof, and such has not been <br /> resolved to the satisfaction of the Committee; and, <br /> (ii) the contract is with a contractor approved by the <br /> City's Water Management Department. <br /> (c) Payrnent of those contracts executed by the Committee pursuant to the terms <br /> and provisions of this Ordinance shall be made solely from the Fund, and said contracts shall not <br /> otherwise constitute a debt or pledge of the faith and credit or the taxing power of the City. <br /> Section 6. That the Committee and the Fund shall be dissolved and cease to exist on <br /> April 30, 2007, unless expressly reauthorized by action of this Council. Upon dissolution of the <br /> Fund, the monies therein shall be disbursed to other funds and accounts of the City at the <br /> direction of the City Manager. <br /> PRESENTED; PASSED, APPROVED AND RECORDED s 18th day of November, <br /> 2002. <br /> � <br /> �� <br /> Terry M. ley, ay <br /> ATTEST: <br /> � <br /> �.� , . ��2� <br /> City Clerk <br />