If damages are allowed to adjacent property owners because of the change of street grade, upon final determination of the amount to be awarded to each property owner and upon determination by the Council to proceed with the improvement as provided in Section 9-408, the Council shall loan or otherwise transfer from any available fund to the special assessment fund , an amount sufficient to pay all such awards. The warrants then shall be drawn in favor of the persons entitled thereto in the amounts awarded, payable upon demand, with interest as set by ordinance. No such warrant shall be delivered to a property owner who has been allowed damages until the owner applies therefor and files written acceptance of such allowance, or until the amount of award has been finally determined. The advancement authorized herein, with interest as set by ordinance, is part of the cost of the improvement and the amount of the advancement with interest shall be returned to the fund from which it was advanced, subject to the apportionment of the City's share, if any. [June 2, 1913, subdn. g, new sec. 372 1/2; 1928 pub., sec. 271; 1942 recod., sec. 9-407; am. Nov. 8, 1966; am. Nov. 3, 1992.]