4.40.020 Classifications of Fees or Earnings.
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There are deemed to be three classifications of fees or earnings which may be collected by or in conjunction with the in-lieu of assessment charges provided under authority of Resolution 14017 as follows:
A. Payments of principal amounts of in-lieu of assessment charges by property owners;
B. Payment of 8 percent interest on unpaid balances of in-lieu of assessment charges, which is deemed a charge for the privilege of paying in-lieu of assessment charges over a period of time;
C. Earnings on the investment of the principal amounts of in-lieu of assessment charges and interest thereon, which is deemed an addition to and increase of customer accounts on deposit.