Monies raised by special assessment to pay for the cost of any public improvement or any part thereof, or to pay the cost incurred by the City upon or in respect to any lot or lots or parcels of land not included in a special assessment district, shall be held as special funds to pay such costs or to repay any money borrowed or paid out therefor, and shall be used solely for the purpose for which they are raised. If the estimated cost of any public improvement exceeds the actual cost of such improvement, such excess shall be distributed as follows: All persons who have paid the total amount of their assessment shall be paid their proper share of the excess, and the balance of the excess after such payments have been made shall be applied pro rata to reduce the amount of the annual installments becoming due thereafter.
(Ord. 2542, passed 1-26-1976)