(A) There is hereby established a Redevelopment Bond Fund 0311 for the purpose of accounting for receipts and disbursements of the Redevelopment Bond activities.
(B) Monies deposited in said Fund shall be used for the payment of Redevelopment Bond Fund obligations.
(C) Monies from said Fund may be disbursed only on approved claims allowed by the EC Redevelopment Board of Commissioners.
(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 bond transcript.
(Ord. 11-0037, passed 12-26-2011)