Whenever property sold to the city pursuant to the provisions of Sections 3.28.005 through 3.28.645 is redeemed as provided in Section 3.28.490, the money received on account of such redemption shall be distributed as follows: The original and subsequent taxes and all percentages, penalties and interest paid on redemption, together with the additional penalties received on account of delinquency and the costs, shall all be paid into the treasury for the use and benefit of the city, and shall be apportioned between the several funds of the city in the proportion in which the taxes are levied. (Prior code § 6.04.990)