Pursuant to Ohio R.C. 5705.09(F), there are hereby established Special Revenue Fund 83, to be known as the Rental Housing Rehabilitation Fund, and Special Revenue Fund 814, to be known as the Owner-Occupied Housing Rehabilitation Fund. The purpose of Fund 83 is to provide a specific account into which all moneys received by the City for purposes of the Rental Housing Rehabilitation Program, as described in the preamble to original Ordinance 85-21, passed March 18, 1985, can be deposited. The purpose of Fund 814 is to provide a specific account into which all sums received by the City for purposes of the Owner-Occupied Housing Rehabilitation Program, as described in such preamble, can be deposited and kept separate from other Municipal funds. All funds obtained by the City by reason of repaid housing rehabilitation loans, including interest, shall be deposited to the credit of the Fund from which the loan principal was derived, so that subsequent revenues can be utilized for the purposes for which these Funds have been established. If sufficient sums are on deposit in Fund 83 and Fund 814 which may be available to the City Treasurer and City Investment Board for investment purposes, the interest earned on the principal of such Funds shall be paid into the Fund to which the principal belongs.
(Ord. 85-21. Passed 3-18-85.)