Chapter 3.39


3.39.010    Establishment and purpose.

3.39.020    Funding sources.

3.39.030    Expenditures.

3.39.040    Accumulated funds.

3.39.010 Establishment and purpose.

There is hereby created a Timber Ridge settlement fund which shall be used for the purpose of funding repair and maintenance to the failed infrastructure in the Timber Ridge plat. (Ord. 1134-12)

3.39.020 Funding sources.

Funds were provided under a settlement agreement with the bonding company for the plat. (Ord. 1134-12)

3.39.030 Expenditures.

Expenditures from the fund shall be made as appropriated and authorized in the city’s annual budget. (Ord. 1134-12)

3.39.040 Accumulated funds.

Should this fund be discontinued any unexpended funds remaining in the fund shall be deposited equally into the street, water, sewer and storm construction funds. (Ord. 1134-12)