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8.A. - Page 89 <br /> Section 13. If the CBID is formed, funds may (at the sole discretion of the City <br /> Council) be advanced, pursuant to Section 31.10 of the CBID Ordinance, from the City's <br /> general fund to permit the operation of the CBID prior to the City's collection of the <br /> assessment. Any such advance may not exceed the total anticipated assessment <br /> proceeds for the first year of the assessment. Any such advance will be recovered from <br /> assessment proceeds, along with interest calculated at the rate set by the State <br /> Controller for funds invested in the Local Agency Investment Fund. The duration of any <br /> such advance shall not exceed five years. <br /> ATTY /RES0.2986 /CC RWC CBID RESO OF INTENT <br /> REV: 06 -04 -14 PT <br /> Page 3 of 8 <br />