§ 5.20.160. Road improvement assessment district (RIAD) Engineer's Estimate Fund.

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The Kenai Peninsula Borough Road Service Area RIAD Engineer's Estimate Fund is established to receive, account, and disburse funds for road improvement assessment district project cost estimates. The fund shall earn interest at the rate for the borough's investment pool. Appropriations and disbursements from the fund are to be used solely to fund the engineering costs associated with estimating the total project costs for road improvement assessment districts formed pursuant to KPB 14.31. The Road Service Area fund provides capitalization of the RIAD Engineer's Estimate Fund. The RIAD Engineer's Estimate Fund shall be reimbursed for engineer's fees at the time of financing for projects that proceed and shall absorb the cost of the engineer's estimate for projects which don't proceed.

(Ord. No. 2004-11, § 3, 5-18-04; Ord. No. 2000-19-08, § 1, 8-1-00)

                    
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