The proceeds arising from the City’s ownership of the warrant, assessment and diagram, including payments on the bonds issued to represent unpaid assessments, and payments of all other principal, interest, penalties and costs, shall be paid into the Improvement Assessment Revolving Trust Fund. All bonds acquired by the purchase of an assignment shall be retained by the City Treasurer and serviced by him for the said fund.
SECTION HISTORY
Based on Ord. No. 134,367.