The City finds and declares that absent effective maintenance, operation, regulation and control, existing storm water drainage conditions in all areas within the City constitute a potential hazard to the health, safety and general welfare of the City. The City Council further finds that natural and man-made storm sewer facilities and conveyances constitute a storm sewer system and that effective improvement, regulation, and control of storm water through formation by the City, of a Storm Water Utility, requires the transfer to the Utility of all storm sewer facilities and conveyances and related rights belonging to the City.