(A) There is hereby established a Building Demolition Fund 0219 for the purpose of accounting for the receipts and disbursements of the State Housing and Community Development Authority Blight Elimination Program Grant, other grants and other building demolition revenues.
(B) Monies deposited in said Fund shall be used for the purposes described in the grant agreement and as approved by the Common Council.
(C) Monies from said Fund may be disbursed only on approved claims allowed by the Common Council.
(D) Said fund shall be perpetual in nature; however, should the Fund terminate for any lawful reason, any balance of said Fund shall be disbursed in accordance with the grant agreement and as lawfully allowed.
(Ord. 14-0019, passed 8-11-2014)