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HomeMy WebLinkAbout1365 Ordinance' :. *-: ORDINANCE NO. 1365 AN ORDINANCE CREATING A NEW FUND TO BE. KNOWN AS THE URBAN RENEWAL ESCROW FUND, ESTABLISHED TO FUND REHABILITATION GRANTS AND LOANS WITHIN THE URBAN RENEWAL.PROJECT. WHEREAS, It is necessary in the Urban -Renewal Accounti.ng--Procedure to establish a -separate Fund for accounting for Rehabilitation Loans and Grants, and WHEREAS, The aforementioned Fund -has not -been established_by Ordinance, NOW, THEREFORE, THE. CITY COUNCIL OF THE CITY OF.PASCO DO -ORDAIN AS FOLLOWS: Section 1. There is hereby created a -new Fund to -be known -as the Urban Renewal Escrow Fund. . .Section.2. The foregoi-ng is in -accordance. with Urban Renewal Manual, RHA 7221.1, Chapter—1, Section 7. .Section 3. Project.Funds which may be received from time to time in this Fund will be disbursed by warrant and will.only be for.the purpose of funding Rehabilitation --Grants and Loans. Section 4. This Ordinance'shall be.in full force and effect after its passage and publication as required by law. PASSED by the City Council and --APPROVED this 17 day of ,- June 1969. G.E. CARTER, MAYOR ATTEST: CLIFF RD G IGLER, DIRECT R OF ADMINISTUTION AND EX -OF 0 CITY CLERK U. E CAMPBELL, CITY ATTORNEY