The Revolving Loan Fund will not directly engage in the servicing of its portfolio. The Board will negotiate with outside sources, preferably the first lender, who possess the necessary skills to service the loans. Funds will, however, be on deposit in a specially created account at a local financial institution and managed by the office of the City Administrator and any checks shall require the signature of the City Treasurer.
(Ord. 87-27, passed 6-29-87)