There is established a standing committee to be known as the Spearfish Economic Revolving Fund (SERF) Committee for the purpose of:
(1) Providing technical assistance in the completion of application documents to applicants for a SERF loan;
(2) Providing consultation and recommendations to the common council regarding individual SERF loan applications and requests for loan servicing for use by the common council in the review, evaluation, and decision-making thereon; and
(3) To monitor outstanding SERF loans.
(Ord. No. 718, § 2-165, 2-18-92)