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For the purpose of maintaining the local improvement guaranty fund herein created, the town council shall, at the time of making the town’s annual budget, provide for the transfer of monies into said fund in a sum sufficient, with other sources of the fund, to pay the warrants issued against the fund during the preceding fiscal year and to establish a balance therein; provided, that the transfer of monies to the fund in any one year shall not exceed the greater of: (1) 12 percent of the outstanding obligations guaranteed by the fund; or (2) the total amount of delinquent assessments and interest accumulated on the delinquent assessments as of September 1st of such year. (Ord. 314 § 2, 1984)