A. Loans by the City. The City may loan funds to the Transportation Development Impact Fee fund to pay for Transportation Facilities should the Transportation Development Impact Fee fund have insufficient funds to cover the cost of planned Transportation Facilities. Said loans, if granted, shall be approved by resolution of the City Council and shall carry interest rates pursuant to City Council Policy 220-06 (Interfund Loan Policy) or such other Council policies as may be subsequently adopted.

B. Developer Loans. A Developer may loan funds to the City as outlined in CVMC 3.54.140 and 3.54.150. The City may repay said Developer loans with interest, under the terms listed in subsection (A) of this section. (Ord. 3440 § 1, 2018).