§ 36.061 HOUSING REVOLVING LOAN FUND.
   (A)   The Auditor of the city is authorized to set up a Housing Revolving Loan Fund in an interest bearing account with a local financial institution.
   (B)   This account is defined as a separate fund established for the purpose of accounting for Program Income and of carrying out the specific activities designated in the Office of Housing and Community Partnership’s (OHCP) Housing Program Income Policies and Procedures Manual, which, in turn, generates payments to the fund for the continued use in carrying out the same housing improvement activities.
   (C)   The Mayor is authorized to enter into a two-year agreement with ODOD for the Housing Revolving Loan Fund Administration Agreement.
   (D)   The Mayor is authorized to appoint a three-person Housing Revolving Loan Committee to work with the CHIP Administrator in the utilization of said Revolving Loan Funds.
(1982 Code, § 35.71) (Res. 2004-3, passed 1-5-2004)