If a special assessment proves greater than the actual cost of the improvement and the expenses incidental thereto, such excess may be placed in the General Fund of the City if such excess is five percent or less of the assessment. Should the assessment prove greater than necessary by more than five percent, the entire excess shall be refunded on a pro rata basis to the then owners of the property assessed. Such refund may be made by credit against future unpaid installments, to the extent that such installments then exist, and the balance of the refund shall be in cash. No refund shall be made which contravenes the provisions of any evidence of outstanding indebtedness secured in whole or in part by such special assessment.
(Ord. 158. Passed 7-2-56.)