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Title 07
Chapter 07.08
Section 07.08.140
 

Title 07 Finance

Chapter 07.08 Funds

Article II. Special Revenue Funds

Section 07.08.140 Community Development Home Rehabilitation Funds

  1. There is established in the City treasury a special revenue fund to be designated as the "community development home rehabilitation financing fund." Into this fund there shall be placed all community development block grant funds designated specifically for use in the community development home rehabilitation lump sum drawdown program.
     
  2. Funds remaining on deposit with lenders under the program shall remain in this special revenue fund as loan security and reserves for losses, pursuant to the terms of the lender agreements.

Date Passed: Monday, November 26, 2007

Effective Date: Wednesday, January 2, 2008

ORD C34140 Section 13