The Council may from time to time transfer monies to a Community Taxing District or a portion or zone within a District if created in the ordinance of formation for the benefit of the district or zone, from any funds available to the City. The Council also may appropriate any of the City’s available moneys to a revolving fund to be used for the acquisition of real or personal property, engineering or other services, or the construction of structures or improvements needed in whole or in part to provide one or more of the facilities or services of a Community Taxing District. The District may reimburse the City for any amount transferred or appropriated pursuant to this Section 6.705, together with interest at the rate per annum, as determined by the Council.
SECTION HISTORY
Added by Ord. No. 177,051, Eff. 11-20-05.