(A) Upon collection of reimbursement amounts pursuant to any special public improvements ordered under Section 11.20.050 which are located in a municipal improvement district and financed by assessments, such funds shall be deposited with administrative services. The funds shall be applied against the outstanding indebtedness for which improvement district bonds were issued.
(B) Reimbursements for special public improvements pursuant to Section 11.20.050 may be used in combination with a general obligation bond issue; provided, that the general obligation bond issue question submitted to the qualified electors indicates that such reimbursements may be required of benefited property owners. All amounts collected from such reimbursements shall be deposited in the general obligation bond fund from which the special public improvements project is financed. (Ord. No. 2013-04, § 1, 7-16-13. 1976 Code § 18-4-8)
State law reference: A.R.S. § 48-571.