1906d

The fees for benefits constitute a tacit legal charge and lien imposed on real property in proportion to the profits or the utility it receives or shall receive from an improvement, construction or repair of infrastructure. The fees for benefits shall never exceed the profit received by the real property.The income proceeding from the collection of the fees for benefits, or from the bonds secured thereby, shall be used solely and exclusively to finance the infrastructure for which they were imposed, or to amortize the loan contracted to carry it out. However, the trust contract or the resolution providing for the bond issue, may provide for the income received to be invested pending its application, under the terms and conditions established by the resolution or trust contract. History —June 21, 1988, No. 44, added as § 11 on June 24, 1998, No. 92, § 8, eff. 90 days after June 24, 1998.