Inglewood Municipal Code § 2-219 Special Assessment Fund

A "Special Assessment Fund" is hereby created to receive, disburse and account for, and to contain the cost balances, assets, liabilities, reserve and surpluses of any special assessment project initiated by the City under all assessment proceedings maintained pursuant to state law.

The fund shall be made up of a separate set of accounts for each specific project or district established by the City Council so as to maintain the accounting and legal integrity of each such proceeding separate from any other such assessment proceeding or project.

Disbursements from said fund shall be used exclusively for the expenses of, payments for, and costs attendant to specific assessment projects or districts for which revenues are received, and the maintenance thereof, in accordance with said Code and all applicable state laws and interpretations thereof.

In addition to the special assessment projects or districts established and accounted for under all applicable state laws, the City Council may by ordinance establish assessment projects or programs and require accounting therefor through special accounts within said Special Assessment Fund.

All assessments shall be spread among benefitted properties in accordance with Council policy, with applicable state law and as interpreted by judicial decision, and within the City Charter, ordinances and Council policy.

All assessment projects and programs authorized by said Charter and by state law are hereby authorized to be proceeded on and under by the City Council on its order, following applicable procedural steps and determinations. Said Special Assessment Fund shall be the accounting instrumentality therefor, and the Finance Director is directed to maintain such accounts as are appropriate, and records necessary to provide a full fiscal accounting to the Council and to benefitted and assessed property owners.

(Ord. 03-19 10-14-03; Ord. 07-08 4-25-07)