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There shall be deposited in the improvement revolving fund the following:

(1) All assessments received by the city from improvement districts which were financed or funded through the improvement revolving fund and all assessments received from improvement districts which were funded by improvement bonds or transfers from other funds; provided, that such bonds or other funds have been repaid or retired.

(2) All of the net proceeds received from the sale of real property which was acquired by the city through the payment or foreclosure of assessment liens if all improvement bonds, other obligations and liens thereon are fully paid and satisfied.

(3) The council may, from time to time, budget or authorize the transfer of other resources to the improvement revolving fund. (Ord. 1763 § 2, 1990)