From and after the effective date hereof, and thereafter as amended, there is hereby established a Non-Economic Development Administration Revolving Loan Fund Account, which shall be assigned account number ___ by the City Clerk-Treasurer. The monies received from the city from grants from any state agency, the proceeds of the sale of any promissory notes now payable to the city or other eligible promissory notes in the future payable to the city, or the proceeds of bonds issued under this section and I.C. 36-9-32 et seq. shall be placed into this account, invested and reinvested, as required from time to time, in the name of this account.
(Ord. 680, passed 5-21-1990)