1990-040 - Laserfiche WebLink

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purposes and in the manner provided herein. All moneys in all funds and accounts created or established hereunder shall be continuously secured in the manner by which deposits of public funds are required to be secured by the laws of the State of Florida. Moneys on deposit in the Revenue Fund and the Sinking Fund may be invested and reinvested only in Authorized Investments maturing not later than the date on which the moneys therein will be needed for the purposes of such funds. Any and all income received by the County from such investments shall be deposited into the Rebate Account hereunder to the extent required and the excess, if any, into the Revenue Fund. D. CONSTRUCTION OF PROJECT. The County has acquired and constructed the Rockridge Wastewater System and has applied funds in the Impact Fee Trust Fund to payment of the costs thereof. E. ENFORCEMENT OF PAYMENT OF ASSESSMENTS. The County will receive, collect and enforce the payment of the Assessments imposed by the County, and the interest, prepayment charges and penalties in connection therewith, in the manner prescribed by this Resolution and all other resolutions, ordinances or laws thereunto appertaining; and will pay and deposit the proceeds of such Assessments and the interest, prepayment charges and penalties in connection therewith, as received, into the Revenue Fund. If any Assessment shall be either in whole or in part annulled, vacated, or set aside by the judgment of any court, or if the County shall determine that any such Assessment is so irregular or defective that it cannot be collected or enforced, or if the County shall have omitted to make such Assessment when it might have done so, the County covenants that it shall take all necessary and appropriate steps to cause a new Assessment to be made against the property to which such Assessment appertained. F. REMOVAL OF ASSESSMENT LIENS. The County shall not release or extinguish the lien of any Assessment upon any property, or any portion or portions thereof at the request of the property owner, except as provided herein. The County shall not release or extinguish the lien upon an entire property without the payment of the entire outstanding amount of the Assessments against the property together with appropriate interest and/or prepayment charges. The County shall not release or extinguish the lien upon a portion of a property without the payment of at least a pro -rata portion of the outstanding amount of the Assessment against the property, such portion to be based upon fair market value of the property as established by appraisals acceptable to the County, together with appropriate interest and/or prepayment charges. All money received in connection with the release or extinguishment of any Assessment lien shall be deposited in the Revenue Fund. - 21 -