There is hereby created a fund to be known as the Public Benefit Fund, which fund shall be used solely for the purpose of paying that portion of the several amounts heretofore assessed against the city for public benefit as well as paying any such amounts as may be hereafter assessed for public benefit under and in pursuance of any ordinance that may be hereafter passed. However, where and whenever any road or street is constructed or reconstructed by the state or the county or both jointly with the city, the city may consider, accept and use, the amount estimated by the state or the county, or both, to be its or their portion of the cost of construction, as a part or all of the city public benefit.
(Prior Code, § 39-32) (Ord. 635, passed 6-8-1964)