Title 07 Finance
Chapter 07.08 Funds
Article II. Special Revenue Funds
Section 07.08.140 Community Development Home Rehabilitation Funds
- 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.
- 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
