SEC. 250.078. ADVANCED BY CITY WITHOUT BONDS.

   The Board may declare in the resolution of intention or by separate resolution subsequently adopted that the City intends to advance the entire cost of the project from available funds without issuance of bonds. In such event, the City shall pay all project costs as they accrue, and shall succeed to all rights under the assessment and to all rights which would have accrued under the bonds had they been issued.

(Added by Ord. 225-81, App. 5/5/81)

SEC. 250.079. REIMBURSEMENT.

   The assessment and diagram and/or warrant shall be recorded as in other cases and notice to pay assessments given in the time and manner provided herein. Such notices shall provide in substance that the assessment may be paid in cash in whole or in part at any time prior to the notice hereinafter mentioned in Section 250.080, but that the amount unpaid as of July 1st of each year following the recordation of the assessment will be increased by a penalty of 10 percent.

(Added by Ord. 225-81, App. 5/5/81)

SEC. 250.080. ID.-NOTICE OF INSTALLMENT PAYMENT.

   The City may, at any time after the expiration of 30 days from recordation of the assessment, give notice by publication and mailing that the amounts unpaid on the 30th day after such mailing are due and payable to the City in annual installments, not necessarily equal, but not exceeding the maximum number of installments set forth in the resolution of intention, with interest at rates to be fixed by the Board, but not to exceed the rate set forth in the resolution of intention.

(Added by Ord. 225-81, App. 5/5/81)

SEC. 250.081. ID.-PAYMENT.

   Thereafter, the annual proportion of each assessment coming due in any year, together with the annual interest on such assessment, shall be payable in the same manner and at the same time and in the same installments, and be subject to the same proportionate penalties and interest after delinquency as would have been the case had bonds been issued to represent the unpaid assessments.

(Added by Ord. 225-81, App. 5/5/81)

SUBDIVISION 8 REVOLVING FUNDS

SEC. 250.085. REVOLVING FUND.

   In the exercise of any of the powers now or hereafter provided for in this Procedure Code, including, but not limited to, the right to take immediate possession in eminent domain proceedings, the Board may, by resolution, create a revolving fund, transfer lawful monies to it, use said monies for the purposes designated, reimburse said fund from any monies derived pursuant to this Procedure Code, and dissolve said fund by retransferring said monies to the funds from which they were transferred or to any other fund it deems appropriate, consistent with any legal limitations on the ultimate use of such monies and consistent with the provisions of the Charter.

(Added by Ord. 225-81, App. 5/5/81)

SEC. 250.086. PROCEDURE.

   The revolving fund may be established, operated, reimbursed, reduced or dissolved, in which event Article 2, Chapter 3, Division 4, Title 4 of the Government Code, may, but need not, apply.

(Added by Ord. 225-81, App. 5/5/81)