The governing body may terminate this subchapter and the city's economic development plan and any or all project participation agreements undertaken under its authority. Termination shall be by ordinance at a public hearing or in accordance with the terms of the project participation agreement. If an ordinance or a project participation agreement is terminated, all contract provisions of the project participation agreement regarding termination shall be satisfied. Upon termination of the ordinance or any project participation agreement, any city monies remaining in the city project accounts shall be transferred to the city's general fund.
(Ord. 959, passed 7-28-2009; Am. Ord. 2015-991, passed 6-23-2015)