§ 16.36.060. Advancement of funds.

A.

Money may be advanced by the Riverside County flood control and water conservation district to design or construct drainage facilities or to acquire necessary right-of-way within an adopted drainage area; therefore, money so advanced may be reimbursed to the district from the fund for the local drainage area in which the facilities are located.

B.

When required for the implementation of an adopted area plan, an agreement may be entered into between a developer and the Riverside County flood control and water conservation district whereby the developer may advance money for the construction of facilities, or design or construct facilities within a local drainage area; provided, that the sole security to the developer for repayment of money or other consideration advanced shall be money subsequently accruing to the local drainage facilities fund for the drainage area in which the facilities are located. Reimbursement shall be for the amount agreed upon in advance only and shall not include interest or other charges. The agreement shall expire fifteen (15) years after the date it was entered into, and any subsequent money paid into the fund shall accrue to the fund without obligation to developers whose agreements have expired.

(Ord. 460.137 § 10.25(G), (H), 1997)