(A) A new fund, “READI Grant” fund, is hereby created as Fund No. 9235 for the receipt and deposit of funds for the reimbursement of expenditures made by the county for the county-wide broadband project.
(B) The revenue for this new fund will come from a check from NCIRPC.
(C) The fund’s purpose is to continue to help pay for the county-wide broadband project.
(D) The life of the fund will be until the maximum of $716,889 is expended.
(E) The fund balance is perpetual until terminated by the terms of this section.
(F) The fund cash balance should be $0.00 upon termination of the fund.
(Ord. 2023-BCCO-27, passed 8-7-23)