§ 17-355. Assessments for capital improvement reserve.

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Nothing in this article prohibits the board of county commissioners from using the proceeds of special assessments and related annual installments to fund a reserve account for future capital improvements. However, where the board of county commissioners elects to create such a reserve, the future capital improvements shall be specified in the resolution, and all proceeds of the assessment and related annual installments shall be held by the county and accounted for in a special assessment fund, separate from other funds, until such capital improvements are made. If the board of county commissioners later decides such improvements, for whatever reason, will not be made, it shall reimburse all owners of the property assessed (with such ownership to be determined as of the date of reimbursement) the amount of assessment or annual installments collected to the date of reimbursement plus a pro rata share of the interest, if any, earned on the special assessment fund as of the date of reimbursement.

(Code 1965, § 33-69; Ord. No. 82-7, § 2, 5-18-82)

                    
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