(A) Lake County’s HUD Neighborhood Stabilization Grant Fund, a non-reverting fund, is hereby established for the deposit and use of grant funds distributed to Lake County through HUD’S Neighborhood Stabilization Program.
(B) The moneys received from HUD shall be deposited in the Lake County HUD Neighborhood Stabilization Grant Fund and only be used for the purposes as provided under the Housing and Economic Recovery Act of 2008.
(C) Any money remaining in the Fund at the end of the year shall not revert to the General Fund but continue in Lake County’s HUD Neighborhood Stabilization Grant Fund.
(D) All expenditures from the Fund shall be subject to appropriation by the Lake County Council or as otherwise provided by law.
(Ord. 1310A, passed 4-14-2009)