Each open space district shall, upon creation, have added to the assessment an amount equivalent to 100 percent of the estimated first year expenses. Each existing open space district shall annually have added to the assessment an amount equivalent to 10 percent of the next year’s estimated operating budget, so that after five years of generation there shall be accumulated a reserve of at least 50 percent of the next year’s estimated operating budget. The amount of the accumulated reserve shall in no event exceed 100 percent of the next year’s estimated operating budget. The engineer’s report and the Council’s action shall not include in the annual levy an amount, for a reserve, in excess of the maximum 100 percent reserve. After the reserve reaches at least 50 percent, but not more than 100 percent, it shall be maintained to provide necessary cash flow for operations for the first six months of each fiscal year and a reasonable buffer against large variations in annual assessments. (Ord. 2468 § 2, 1991; Ord. 2331 § 6, 1989).