HomeMy WebLinkAbout1977-2106 CREATING A HOUSING & COMMUNITY DEVELOPMENT--312 FUND. ORDINANCE NO. oZ / p�o
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AN ORDINANCE relating to City funds and accounts; creating' a Housing
and Community Development- -312 Fund as a special
fund of the City, specifying its purpose, designating
the source of money therefor and regulating expendi-
tures therefrom; and enacting Chapter 3.18 "Housing
and Community Development-312 Fund", as a new chapter
of the City of •Yakima Municipal Code,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. Chapter 3.18, "Housing and Community Development-
312 Fund ", is hereby enacted as a new chapter of the City of Yakima
Municipal Code, which new chapter, and the various sections thereof,
shall read as follows:
"Chapter 3.18
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HOUSING AND COMMUNITY DEVELOPMENT- -312 FUND
3.18.010 Fund created -- Purpose of expenditures.
There is created a special fund to be known as the 'Housing
and Community Development- -312 Fund', The money in'the
fund shall be expended only for the purpose of making
loans, to pay for rehabilitation of houses, to persons
who qualify for such loans as approved by the City Depart-
ment of Planning and Community Development, according
to standards determined by the United States of America,
Department of Housing and Urban Development.
3.18.020 Source of funds. Money to be deposited
in the 'Housing and Community Development--312 Fund shall
consist only of receipts from the United States of America,
Department of Housing and Urban Development, pursuant to
Section 312 of the 1964 Housing and Community Development
Act, and as it may be amended from time to time."
Section 2. This ordinance shall be in full force and effect
thirty days after its passage, approval and publication as provided
by law and by the City Charter. •
PASSED BY THE CITY COUNCIL, signed and approved this Pm day
of .te►, t r, 1977.
Mayor'
ATTEST:
Or
Cit/ Clerk