A non-reverting fund shall be established for the sole purpose of holding funds received from the Indiana Housing Finance Authority. Those funds shall be called the Community Block Grant Fund. It shall be used to receive funds as set out above and pay those funds out as agreed upon and determined by the terms of the grant and requested by the sub-grantee, the Interlocal Community Action Plan (ICAP). This fund shall be subject to and administered in accordance with the grant requirements, the appropriate state and federal laws, and under the guidance and audit of the Indiana State Board of Accounts.
(Res. passed 7-6-92)