How maintenance district money is handled and adjusted

(a) Upon receipt of moneys representing assessments collected for the maintenance district, the director of budget and fiscal services shall deposit the moneys in a special fund for the maintenance district for which they were collected, and the moneys shall be expended only for the maintenance authorized for such district. (b) If there is a surplus or a deficit in the special fund of a maintenance district at the end of any assessment year, the surplus or deficit shall be carried forward to the next annual assessment to be levied within such district and applied as a credit or a debit, as the case may be, against such assessment. (c) If there is a deficit in the special fund of a maintenance district during any assessment year, the council, by resolution requiring not more than one reading for its adoption, from any available and unencumbered funds, may provide for: (1) A contribution to the special fund; and (2) A temporary advance to the special fund and direct that the advance be repaid from the next annual assessment levied and collected within the maintenance district.