Section 149-I:10-a Stormwater Utility Fund.
I. The funds received from stormwater utility fees shall be kept as a separate and distinct fund to be known as the stormwater utility fund. Such fund shall be allowed to accumulate from year to year, shall not be commingled with town or city tax revenues, and shall not be deemed part of the municipality's general fund accumulated surplus. Such fund may be expended only for stormwater treatment, conveyance, and discharge systems.
II. Except when a capital reserve fund is established pursuant to paragraph III, all stormwater utility funds shall be held in the custody of the municipal treasurer. Estimates of anticipated revenues and anticipated expenditures from the stormwater utility fund shall be submitted to the governing body as set forth in RSA 32:6 if applicable, and shall be included as part of the municipal budget submitted to the local legislative body for approval. If the municipality has a properly established stormwater utility commission, then notwithstanding RSA 41:29 or RSA 48:16, the treasurer shall pay out amounts from the stormwater utility fund only upon order of the stormwater utility commission. Expenditures shall be within amounts appropriated by the local legislative body.
III. At the option of the local governing body, or of the stormwater utility commission if any, all or part of any surplus in the stormwater utility fund may be placed in one or more capital reserve funds and placed in the custody of the trustees of trust funds pursuant to RSA 35:7. If such a reserve fund is created, then the governing body, or stormwater utility commission if any, may expend such funds pursuant to RSA 35:15 without prior approval or appropriation by the local legislative body, but all such expenditures shall be reported to the municipality pursuant to RSA 149-I:25. This section shall not be construed to prohibit the establishment of other capital reserve funds for any lawful purpose relating to municipal water systems.
Source. 2008, 295:8, eff. Aug. 26, 2008.