There is established a special fund to be known as the Economic Development Revolving Loan Fund, in which shall be deposited all monies being collected in connection with the U.D.A.G. loan repayment agreement with Developmental Options Company II and other future loan agreements which may be forthcoming. The Revolving Loan Fund Committee of the city may re-loan the funds upon such terms and conditions as they deem appropriate without necessity of approval of Council or without following state guidelines previously required.
(1982 Code, § 35.57) (Ord. 1985-8, passed 2-4-1985; Ord. 1994-18, passed 1-3-1995)