3.09.190 LID guaranty debt service.
This section is included in your selections.
There is hereby established a fund known as the LID guaranty debt service fund (fund 251) as follows:
A. Purpose. This fund was created in conjunction with establishing the permanent financing of CLID 1101-1103. The money needed to establish and deposit into the fund was part of the costs of the LID and borne by the property owners included in the district.
B. Revenues. The source of funding was the LID bonds and underlying that, the assessment payments from property owners. [Ord. 589 § 20, 2014.]