(A) There is hereby established a Lakeside Gardens Project TIF Fund 0000 for the purpose of accounting for the receipts and disbursements of the city’s Lakeside Gardens TIF activities.
(B) Monies deposited in said Fund shall be used for the payment of the Economic Development Tax Increment Revenue Bonds, Series 2014 (Lakeside Gardens Project).
(C) Monies from said Fund may be disbursed only on approved claims allowed by the Common Council.
(D) Upon fund purpose fulfillment, being payment of the bonds for their term of 25 years, any balance of said Fund shall be transferred to the Civil City General Fund.
(Ord. 16-0015, passed 11-14-2016)