(A) There is hereby established a Harborside Apartments Fund 0298 for the purpose of accounting for the receipts and disbursements of the operation and maintenance of the Harborside Apartments.
(B) Monies deposited in said Fund shall be used in accordance with the operation and maintenance agreement of the Harborside Apartments.
(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 as lawfully allowed.
(Ord. 12-0031, passed 12-10-2012)