(a) Assessment Limited to Value of Benefits. The total amount assessed against any lot or parcel of land shall not exceed the value of the benefits received from the improvement.
(b) Special Fund. Except as otherwise provided in the City Charter and this chapter, moneys raised by special assessments to pay the cost of any local improvement shall be held in a special fund to pay such cost or to repay any moneys borrowed therefor.
(c) Restricted Use of Funds. Each special assessment account must be used only for the improvement project for which the assessment was levied, except as otherwise provided in Chapter 12 of the City Charter.
(Ord. 6. Passed 4-17-62.)