880.06 ESTABLISHMENT OF SPECIAL REVENUE FUND; APPROVAL OF DEPOSITORY.

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CODIFIED ORDINANCES OF REED CITY MICHIGAN

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CHARTER OF REED CITY, MICHIGAN

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880.06 ESTABLISHMENT OF SPECIAL REVENUE FUND; APPROVAL OF DEPOSITORY.

The Treasurer of the Downtown Development Authority shall establish a separate fund which shall be kept in a depository bank account or accounts in a bank or banks approved by the Treasurer of the City. All monies received by the Downtown Development Authority pursuant to the Development Plan shall be deposited in the Special Revenue Fund. All monies in the Fund and earnings thereon shall be used only in accordance with the Development Plan and this chapter.

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