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(a) Any gifts, contributions or other money received for the stated purposes of the Fund shall be placed in the Fund. The Fund shall accrue interest at the same rate as the City's Investment Rate. All interest earnings accruing on money in the Fund shall become part of the Fund.
(b) Money in the Fund shall not revert to the General Fund of the City, nor shall it be transferred to any other Fund by means of loan or other mechanism except upon repeal of this article.
(c) Monies disbursed from the Fund which are required to be repaid to the Fund shall be placed in the Fund upon repayment, as shall any interest that accrues.
(d) All funds received pursuant to this article shall immediately be deposited into the Fund.
(e) Any units developed with monies from the Fund will be subject to an Affordable Housing Agreement pursuant to Article 6.
(§ 1, Ord. 1506-NS, eff. October 9, 2008)