(A) The City Clerk-Treasurer is directed to establish a non- reverting fund into which grant monies and local match monies for the Indiana Housing Finance Authority grant shall be deposited. This grant is for owner occupied housing rehabilitation and the Fund shall be referred to as the IHFA - Project Homes Grant Fund.
(B) This Fund shall be maintained in accordance with the rules and regulations of the grantor and funds may only be disbursed pursuant to the grant agreement. The Fund shall be audited pursuant to the requirements of the Indiana State Board of Accounts.
(Res. passed - -92)