§ 27A-101. Authorized withdrawals from the fund or funds.

(a)

Money may be withdrawn from the fund or funds only for the following purposes:

(1)

To reimburse the city for administrative expenses;

(2)

To pay any program claim;

(3)

To compromise or settle a claim in accordance with section 27A-114 of this article;

(4)

To pay any funds or fund surplus to the city;

(5)

To retire (by scheduled payment, prepayment, defeasance, or otherwise) any obligation of the city incurred in connection with providing funding for the funds;

(6)

To reimburse the city for any payment made under any agreement to provide funding for the funds that is permitted to be paid to the city pursuant to such agreement, or, to the extent and under the terms and conditions provided in such agreement, to cure a default in payment by the city under such agreement; or

(7)

After the termination date, to establish a reserve, in an amount determined by the city council, for the payment of unsatisfied program claims made or asserted prior to the termination date, and to pay the balance into the general fund of the city.

(b)

No withdrawal from the funds may be made except in accordance with this article.

(c)

Money may not be withdrawn from the funds to make any excluded payment.

(Ord. No. 5847, § 1(3.01), 8-23-90)