12.01 Use of Special Assessment Collections for Project Costs 12.03 Distribution of Remaining Special Assessment Collections 12.02 Additional Use of Special Assessment Collections 12.01 USE OF SPECIAL ASSESSMENT COLLECTIONS FOR PROJECT COSTS.

In accord with Division IV of Iowa Code Chapter 384, and in consideration of the restrictions set forth therein, all funds derived from special assessments levied by the City as allowed by law (hereinafter “Special Assessment Collections”), shall be used first to pay any outstanding assessable project costs for the public improvement for which private property was assessed, or the outstanding debt service on any obligations sold to fund said assessable portion of said project costs for the public improvement project.