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A fund of the City is created which shall be known as the revolving abatement fund. Moneys deposited into such fund shall be deposited therein specifically to:

(1) Defray the cost and expenses which may be incurred by the City in doing or causing to be done the necessary work of repair, demolition and cleanup of dangerous buildings; or

(2) Defray the costs and expenses which may be incurred by the City in doing or causing to be done the abatement of nuisances other than the repair, demolition and cleanup of dangerous buildings; and accounted for separately within the fund. Payment shall be made out of the fund upon demand of the City Manager or his authorized designee to defray the cost and expenses which may be incurred by the City in doing or causing to be done the aforestated work. [Ord. 2467 § 2, 1983; Ord. 1576 § 1, 1973; Code 1970 § 3.77.010.]