§ 33.46 DEPRECIATION FUND.

   A new fund, called the Depreciation Fund, is created to account for transfers of monies made from the Sanitation-Landfill Fund to account for monies to be used to purchase new equipment or replace worn out equipment.

(1989 Code, § 33.36) (Ord. 2015, passed 6-28-1993)

§ 33.47 SURPLUS FUND.

   A new fund, called the Surplus Fund, is created to account for transfers of monies made from the Sanitation-Landfill Fund to account for monies to be used in accordance with the agreement between the Kentucky League of Cities 1989 Pooled Financing Program and the city.

(1989 Code, § 33.37) (Ord. 2016, passed 6-28-1993)

§ 33.48 LANDFILL FUND.

   A new fund, called the Capitol Projects: Landfill Fund, is created by utilizing a state regulated contained landfill that will be sufficient to take care of present and future refuse disposal for the citizens of the city, county and adjoining counties that have contracts with the city.

(1989 Code, § 33.38) (Ord. 2044, passed 1-24-1994)

§ 33.49 RENAISSANCE REVOLVING LOAN FUND.

   (A)   A new fund, called the Glasgow Renaissance Revolving Loan Fund (GRRLF), is created to receive funds from grant applications arising from the Renaissance Project of the city as well as other funds to be transferred to it upon direction of the City Council.

   (B)   The purpose of the GRRLF shall be to extend loans for the renovation and/or preservation of the exterior facade of commercial buildings in the Renaissance Area of the city.

   (C)   The terms and conditions of loans extended by the GRRLF shall be established from time to time by the Board of Directors of the fund and submitted for general approval to the City Council.

   (D)   All funds shall be maintained by the city in a segregated account for the funds.

   (E)   No loans or other disbursements shall be made from funds dedicated to the GRRLF without the specific approval of the City Council, which approval shall include the designation of the recipient thereof and other terms and conditions relating to the disbursement or loan.

(1989 Code, § 33.39) (Ord. 2369, passed 3-26-2001)

§ 33.50 HOUSING REVOLVING FUND.

   There shall be immediately established by the Glasgow Urban Renewal and Community Development Agency a Housing Revolving Fund for the city community, which shall be managed by the Glasgow Urban Renewal and Community Development Agency for the appropriate disbursement of funds generated by the Myrtle Street Housing Revitalization Project.

(Res. 2069, passed 6-9-2008)

INVESTMENT POLICY