All monies received from storm water capital expansion fees shall be paid into the Storm Water Fund. Such monies shall be used only pay the costs of design and construction of capital improvements of the storm water system and the costs of capital equipment of the storm water utility as needed to serve new development and growth in the Town or the unincorporated areas of the County known as Evanston. Additional unincorporated areas of Weld County may be included through an IGA between the Town and the County. The Town may pledge all or any portion of the fund, including revenues anticipated to be collected, to the payment of principal, interest, premium, if any, and reserves for general obligation bonds, revenue bonds or any other obligations lawfully issued or otherwise contracted for by the Town for the payment or other financing of costs of the storm water system, or for the purpose of refunding any obligations issued or otherwise contracted for such purposes. (Ord. 957 § 1, 2008; Ord. 1105 §3, 2012)