(A) Establishment of Fund. There is hereby established a City Industrial Development Fund pursuant to the provisions of I.C. 36-7-13-1 et seq.
(Prior Code, § 3.52.010)
(B) Establishment of Grant Fund. There is hereby established a City Industrial Development Grant Fund pursuant to I.C. 36-7-13-4.
(Prior Code, § 3.52.020)
(C) Administration of Grant Fund. The City Industrial Development Grant Fund shall be received, administered and disbursed by the City Fiscal Officer according to the directions of the City Economic Development Commission for the exclusive purpose of economic development and related activities, and shall be received, administered and disbursed by the Fiscal Officer of the city strictly in compliance with the provisions of state law.
(Prior Code, § 3.52.030)
(D) Revolving use of funds for economic development. Any funds generated and returned to the city by the City Industrial Development Fund, the City Industrial Development Grant Fund or any other activities authorized by law and carried out by the City Economic Development Commission shall be spent and applied to the program and project for which the funds were created.
(Prior Code, § 3.52.040)
(Ord. 1056, passed 6-2-1984)