(A) Funds collected by the District under this subchapter shall be placed in segregated accounts for each project for which reimbursement fees or deposits are established. When funds are collected, the District shall send a written notice to the installer’s last known address. The District shall disburse funds only upon written request of the installer.
(B) Regardless of whether funds are collected, the District will annually review such account and send an account statement to the last known address of the installer. If a request or claim for disbursement of funds is not received from the installer within three years, after reasonable efforts by the District to provide notice of the existence of such funds, the funds shall become the property of the District in accordance with general law. The District will close the reimbursement account and deposit said funds in the District’s Sewer Construction Fund. Said notice and deposit dissolves any and all claims the installer may have had to the reimbursement funds, and the District’s collection of reimbursement fees for the PSF shall cease.
(Ord. 2021-01, passed 3-25-2021)