There is created a special nonreverting improvement fund. All monies received by the city pursuant to the agreement in lieu of annexation approved by Ordinance 87-30, and the agreement to modify and extend the 1987 agreement approved by Ordinance 97-55 and Resolution 98-02, shall be placed in the special nonreverting improvement fund. Within the special nonreverting fund shall be a “road and traffic improvement account” as authorized by Ordinance 87-31, to receive and expend funds in a manner consistent with the provisions of the agreement in lieu of annexation as modified and amended. (Ord. 04-24 § 1 (part), 2004).