PID Administrative Fund Clause Samples

PID Administrative Fund. Funds collected for administrative costs shall be placed into a separate fund (the “PID Administrative Fund”) to pay the annual administrative costs incurred by the City in administering the PID. This amount will be determined on an annual basis by the City. Once these monies are placed into the PID Administrative Fund, the City may use some or all of the monies in this fund to reimburse the City for the annual expense of administering the District.