The money credited to the Development Fund and on hand therein from time to time shall annually be used in the following manner and following order of priority:
(A) To pay principal, interest and fees for any outstanding bank notes undertaken by the Authority pursuant to the Development Plan;
(B) To reimburse the village for funds advanced to pay the tax increment revenue portion project cost in accordance with the Development Plan;
(C) To pay the cost of completing the public improvements as set forth in the Development Plan, including design, engineering, administration and related expenses;
(D) To pay the cost of replacement/repair of Development Plan improvements as determined necessary by the Authority during the life of the Development Plan;
(E) To pay administrative and operating costs of the Downtown Development Authority to the extent provided in the annual budget of the Authority; and
(F) Any tax increment receipts in excess of those needed under divisions (A) through (E) above shall revert proportionally to the taxing jurisdictions.
(Ord. 131, passed 5-26-1992)