Title 07 Finance

Chapter 07.08 Funds

Article II. Special Revenue Funds

1. There is created in the City treasury a special revenue fund known as the "UDAG fund," into which is deposited all money received by the City under the United States department of housing and urban development Urban Development Action Grant Program.
    
2. There is created in the City treasury a special revenue fund, known as the "UDAG Escrow Fund," into which is deposited loan repayments received by the City under the United States department of housing and urban development Action Grant Program and subsequent economic development activities.
    
3. Money in each of these funds is disbursed under approved agreements in accordance with federal program regulations.

Date Passed: Monday, November 26, 2007

Effective Date: Wednesday, January 2, 2008

ORD C34140 Section 15