(a) The Agency may receive funding through grants and loans from:
(1) The federal government;
(2) The state;
(3) Any municipality or county; and
(4) Private or other public sources.
(b) The Agency may receive and retain payments for services rendered, for rents and leasehold payments received, for consideration for disposition of real and personal property, for proceeds of insurance coverage for losses incurred, for income from investments, and for an asset and activity lawfully permitted to a land reuse agency under West Virginia Code Article 31-18E.
(c) The Agency may issue, secure, sell, and redeem a bond pursuant to West Virginia Code Section 31-18E-12. A bond must be authorized by resolution of the board, shall be a limited obligation of the Agency, and must comply with the authorizing resolution. The resolution issuing a bond must be published in a newspaper of general circulation within the jurisdiction in which the Agency is located.
(d) In order to promote the efficient operation of the Agency, all of the Agency's funds shall be placed in a special fund to be known as the Land Use Agency Fund, which is hereby established in the City Treasury. Disbursements from the Land Use Agency Fund may be made only with the approval of the board. (Ord. 2283. Passed 10-17-19.)