The money in such special improvement district revolving fund shall be used and expended as follows:

A. Whenever any special improvement district bond or warrant, or any interest thereon, shall be due or payable, or shall be about to become due or payable, and there shall then be either no money or not sufficient money in the appropriate district fund with which to pay the same, the city council shall enact a resolution loaning and transferring from the special improvement district revolving fund to such district fund an amount sufficient to make up the deficiency therein, and thereupon such bond or warrant, or any interest thereon, shall be paid from the money so loaned or from the money so loaned when added to such insufficient amount, as the case may require.

B. Whenever there is in the special improvement district revolving fund an amount in excess of the amount necessary for payment or redemption of maturing bonds or warrants or interest thereon, as provided by subsection A of this section, the city council may by resolution enacted by the unanimous vote of all its members at a meeting called for that purpose, either:

1. Order such excess, or any part thereof, transferred to the general fund of the city; or

2. Order such excess, or any part thereof, for the purchase of property at sales for delinquent taxes or assessments, or both, or which may have been struck off or sold to the county for delinquent taxes or assessments, or both, if there then be, against such property, any unpaid assessment for special improvements on account whereof there are outstanding special improvement district bonds or warrants of the city. (Ord. 187 § 3, 1953)