Upon the City’s receipt of funds from the cash deposit, bond, letter of credit, or other secured interest, the City shall provide refunds to the extent such refunds are made possible given the amount of the proceeds from the deposit, the bond, or other security, and the amount of refunds claimed by consumers. The administration of consumer refunds shall be the responsibility of the City, which shall:
(a) Establish a health club refund account for the deposit of all proceeds from the cash deposit, bond, letter of credit, or secured interest into such account;
(b) Receive and review claims for consumer refunds;
(c) Determine the validity of and appropriate amount for each consumer refund; and
(d) Deduct the cash deposit, bond, or secured interest, as administrative cost, an amount equal to ten (10%) percent of the amount of refunds provided to consumers.
(§ 1, Ord. 1110-NS, eff. July 18, 1991)