(A) The Mayor or his/her designee shall:
(1) Submit a report to the Council recommeding a process for the allocation of any lease payment, mortgage payment, premium, interest earnings and other surplus bond funds, said funds not being unappropriated general funds held in an investment account; and
(2) Submit quarterly reports to the Council regarding the surplus funds whether the mortgage, note or lease is held by finance, economic development or any other agency of the Metro Government.
(B) The Revenue Commission shall submit a quarterly report as to the surplus funds held in the Bond Fund, the Cost of Issuance Account and the Project Fund for each General Obligation Bond.
(Lou. Metro Ord. No. 54-2009, approved 4-29-2009)