(A) There is hereby established a TIF Annex Allocation Area Fund 0292 for the purpose of accounting for the receipts and disbursements of the city’s Annex Allocation Area TIF activities.
(B) Monies deposited in said Fund shall be used for the payment of the Taxable Economic Development Revenue Bonds, Series 2015 (Hoist Lift Mfg.).
(C) Monies from said Fund may be disbursed only on approved claims allowed by the City Redevelopment Board of Commissioners.
(D) Upon fund purpose fulfillment, any balance of said Fund shall be transferred to the Civil City General Fund.
(Ord. 17-0032, passed 12-20-2017)