Monies raised by special assessment to pay the cost of any local improvements shall be held in a special fund to pay the cost or to repay any money borrowed therefor. Each special assessment account may be used only for the improvement project for which the assessment was levied, expenses incidental thereto, including the repayment of the principal and interest on money borrowed therefor and to refund excessive assessments if refunds are authorized.
(Prior Code, § 32.21) (Ord. 20, passed 7-20-1993)