§ 11.4. — Transfers from Unencumbered Special or Local Improvement District Funds:

When all outstanding securities of a special or local improvement district have been paid and money remains to the credit of the district or in a special fund created pursuant to Section 11.3 for the said securities issued, it may be transferred, in whole or in part, by ordinance, to a surplus and deficiency fund, and whenever there is a deficiency in any special or local improvement district fund to meet the payment of outstanding securities and interest due thereon, the deficiency shall be paid out of the said fund. The Council may by ordinance, subject to outstanding contractual obligations, transfer all or part of any unencumbered balance from a special or local improvement district fund or a special fund created pursuant to Section 11.3 to any other City fund.