Redwood City Municipal Code § 18.232 Reimbursement Charge Account

Reimbursement agreements entered into with an applicant pursuant to the provisions of this Article shall include, but not be limited to, provisions relating to the requirement for the deposit by the applicant of the costs of the improvements in advance of the entering into by the City of a contract for construction of said improvements, acquisition of rights-of-way, payment of all fees, indemnification of the City, the term of agreement, collection and payment of the reimbursement charge or charges, and such other provisions as the Council deems appropriate. All such agreements shall be subject to approval as to form by the City Attorney.

(Ord. No. 2045, § 2, 9-16-91)

The maximum term of a reimbursement agreement shall be ten (10) years. Upon expiration of the term, all obligations of the City thereunder to collect the reimbursement charge and to reimburse the applicant shall cease.

(Ord. No. 2045, § 2, 9-16-91)

The Director of Finance shall provide for the accounting of the collection and payment of reimbursement charges. Nothing herein contained shall require the City to segregate reimbursement charges collected by the City from general funds of the City or to maintain special funds or accounts for such charges.

(Ord. No. 2045, § 2, 9-16-91)

By entering into a reimbursement agreement, the City shall not be deemed an insurer of payment to the applicant of any reimbursement charge or charges or otherwise guarantee the collection and payment over to the applicant of any reimbursement charge.

(Ord. No. 2045, § 2, 9-16-91)