(A) A fund is established for the deposit of monies from the Community Development Block Grant Funds.
(B) Said account shall be named the Community Development Block Grant - Housing Rehabilitation and all monies contained in said Fund shall be expended for the purpose of minor rehabilitee of owner occupied homes. The following revenue number is designated: Grant revenue: 279990.000. Said Fund will consist of the following appropriations:
(1) Rehabilitation: 279000230.000;
(2) Program delivery: 279000325.000;
(3) LEAD: 279000310.000;
(4) Administration: 279000311.000; and
(5) Environmental review: 279000312.000.
(C) The Clerk-Treasurer shall be authorized to expend monies from said Fund within five days after receipt from the state, in accordance with Ord. 2000-3.
(D) Said Fund shall be non-reverting and exist perpetually unless terminated by a subsequent ordinance enacted by the Town Council.
(E) If said account is terminated by a subsequent ordinance enacted by the Town Council, the remaining balance of the terminated account shall revert to the state’s Department of Transportation or the source of the community development block grant.
(Ord. 2018-5, passed 6-5-2018)