(A) The Mainstreet Revolving Loan Fund Program is adopted by the city.
(B) The Clerk-Treasurer’s office on the request of Mainstreet Committee is authorized to transfer interest generated by the Mainstreet Revolving Loan Fund Program into a separate fund to be known as the Mainstreet Maintenance and Improvement Fund, to be administered by the Clerk-Treasurer’s office, said fund to be used to assist in the revitalization of the entire Mainstreet Area, the distribution of said funds to be on terms and conditions established by the Mainstreet Committee on condition that:
(1) The Mainstreet Committee recommends the use of said funds to the Board of Public Works and Safety of the city; and
(2) If the use of said funds is recommended by the Mainstreet Committee, the final approval for the use of said funds must be given by the Board of Public Works and Safety.
(Ord. 4468, passed 4-19-04)