280.01 ESTABLISHMENT.

   There is hereby established a Loan Review Committee, which shall consist of the Manager, the Mayor-President of Council and the Director of Finance.

280.02 GUIDELINES AND REGULATIONS; ADMINISTRATOR.

   (a)   The Loan Review Committee may adopt and enforce guidelines and regulations as to the application for loans, approval of loans, securing loans and enforcement of loan agreements, in connection with the Neighborhood Revitalization Revolving Loan Fund and the Small Business Loan Fund.

   (b)   The Loan Review Committee may contract for an administrator to carry out any guidelines and regulations.

(Ord. 2581. Passed 7-13-89.)

280.03 DUTIES OF DIRECTOR OF FINANCE.

   The Director of Finance, pursuant to Resolution 2563, shall receive moneys from and pay monies to the Loan Review Committee or the administrator of said loan programs, in accordance with standard accounting procedures.

280.04 AUTHORITY OF MUNICIPAL ATTORNEY.

   The Municipal Attorney is hereby authorized to bring suit or otherwise attempt to collect on any defaulted loan, at the written request of the Loan Review Committee.

(Ord. 2581. Passed 7-13-89.)