There is hereby created an Alliance U.D.A.G. Fund and an Economic Development Revolving Loan Fund Account (RLF). The RLF Account will be funded by the repayment of existing H.U.D.-U.D.A.G. (Urban Development Action Grant) loans. All monies received by the City as and for repayment of existing or future U.D.A.G. loans (development loans made by or through the City using the proceeds of U.D.A.G to the City), will be deposited into the RLF and used thereafter solely in accordance with the guidelines established herein. Additional funds may be generated by future economic development activities or such other sources as Council may from time to time specify.
(Ord. 10-88. Passed 2-16-88.)