Whenever the funds or monies in the local improvement guarantee fund exceed in amount ten percent (10%) of the total outstanding obligations thereby guaranteed, then the board may by ordinance authorize the county treasurer to return and pay such excess or any part thereof to the general fund; or the board may, by ordinance, authorize the treasurer to use said excess or any designated part thereof in payment of all or any part of any local improvement district bonds or warrants together with interest thereon then issued and outstanding. (Ord. 117, 8-12-1981)