Whenever any bonds issued under this article are sold and the proceeds are deposited into the City Treasury, the City Attorney shall have control over the expenditure of the bond proceeds, unless otherwise provided by the Council, and shall cause the bond proceeds to be expended to pay Judgment Obligations unless such amounts are used to reimburse the City for advances described in clause (ii) of Section 11.27, as hereinabove provided. The bond proceeds shall be expended in the same manner as provided in the Charter for the payment of other funds from the City Treasury, in accordance with applicable federal and state laws.
SECTION HISTORY
Added by Ord. No. 167,351, Eff. 11-23-91.
Amended by: Ord. No. 171,915, Eff. 3-16-98; Ord. No. 180,882, Eff. 10-26-09.