(a) The Borough shall maintain an Economic Development Fund Account. Into this Account shall be deposited all proceeds from the sale of real estate acquired with Department of Commerce funds, as well as all rental income derived from such real estate.
(b) Authorized expenditures shall be made from this Fund to maintain real property acquired through the Department of Commerce and to cover administrative expenses for the operation of these properties and programs and any other lawful expenditures relating to the maintenance and development of manufacturing facilities owned or acquired by the Borough. (Res. 1995-17. Passed 8-23-95.)