§ 48-79. Refunding procedure.

Latest version.

Except as otherwise provided, all refund provided for in this article shall be made on October 1 of each year and shall include funds then accrued to the credit of the developer and others. A refund contract entered into by any property owner and the city under the provisions hereof shall be effective for a period not to exceed 25 years after the date of the contract. No refunds will be made by the city to any applicant or contracting party after the contracted for period. The city shall not be liable for payment of interest on any such deposits, refunds or bonds provided for herein. The city shall not refund any amount for which there is no pro rata agreement.

(Code 1994, § 11.205; Ord. No. 188, § 5, 2-11-1991)

                    
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