[HISTORY: Adopted by the Mayor and Council of the Borough of Folsom as indicated in article histories. Amendments noted where applicable.]
[Adopted 3-14-2002 by Ord. No. 294-2002]
The Borough hereby establishes a Rehabilitation Trust Fund to be administered by the Chief Financial Officer and utilized for the Borough's Housing Rehabilitation Program. Funds received by the Borough shall be placed in the trust fund, and such trust fund shall be considered a "dedication by rider" to the budget of the local unit per N.J.S.A. 40A:4-39 for the sole purpose stated herein.
The Chief Financial Officer shall establish and administer the Rehabilitation Trust Fund.