A. Revenues Received as Reimbursement for Street Facility Costs Incurred by Initial Developers. The revenues received by the city from street facility fees assessed and levied pursuant to a memorandum of reimbursable street facility costs approved by the city council in the manner provided by this chapter for street facility costs incurred by an initial developer shall be disbursed to such initial developer in accordance with the provisions of the reimbursement agreement executed by the city and such initial developer also in the manner provided by this chapter. Provided, however, that in the event the city receives revenues from street facility reimbursement fees assessed and levied pursuant to a memorandum of reimbursable street facility costs approved by the city council for an initial developer after expiration of the term of the reimbursement agreement between the city and such initial developer, such fees shall be deposited in a city local street facility fund and thereafter appropriated and used for the purpose of constructing, reconstructing or maintaining local streets within the city.
B. Revenues Received as Reimbursement for Street Facility Costs Incurred by the City. All revenue received by the city from street facility reimbursement fees assessed and levied pursuant to a memorandum of reimbursable street facility costs approved by the city council in the manner provided by this chapter for street facility costs incurred by the city shall be deposited in a city local street facility fund and thereafter appropriated and used only for the purpose of constructing, reconstructing or improving local streets within the city.
C. Revenues Received as Reimbursement for Street Facility Costs Incurred by the Chico Redevelopment Agency. All revenues received by the city from street facility reimbursement fees assessed and levied pursuant to a memorandum of reimbursable street facility costs approved by the city council in the manner provided by this chapter for street facility costs incurred by the Chico Redevelopment Agency shall be deposited in the fund maintained by the Agency for the particular redevelopment project area from which such street was funded. and thereafter used for any street facilities or other public improvements provided for in the redevelopment plan for such project area.
(Ord. 1897 (part))