Any moneys now or hereafter remaining in a fund heretofore or hereafter created by the city for making one or more local improvements, after the improvements have been completed and all claims against and obligations of the fund have been satisfied, shall be transferred to the general fund or the Debt Service Fund established in § 36.015 of this code of ordinances; provided that, the Council may, in its discretion, authorize and direct the Municipal Finance Director to refund all or part of the moneys to the persons who paid the assessments for the improvements following the procedure set forth in § 37.069(B) of this chapter. The amounts to be refunded in respect to the assessment against each property shall be proportionate to the original principal amount thereof and shall be paid to the claimant who paid the last installment of the assessment aggregating more than the amount to be refunded. No refund shall be made in respect to any assessment which is delinquent as to either principal or interest. Any installment of any assessment which is not collected or in the process of collection at the time when refunds may be made under this section shall be cancelled as provided in § 37.069(A) of this chapter.
(Prior Code, § 202.19)