[Adopted 8-19-1986]
There is hereby established a Housing Rehabilitation
Fund for the Housing Rehabilitation Grant/Loan Program.
The Director of Finance shall deposit into said
fund such federal grants as the Town Council shall direct be used
for purposes of grants and/or loans for housing rehabilitation, all
payments of interest and repayments of principal of any loans made
for such housing rehabilitation and interest earned on investments
of the deposited funds.
The Director of Finance shall authorize expenditures
from said fund, subject to normal budgetary procedures and appropriation
action by the Town Council, only for the purpose of grants and/or
loans for housing rehabilitation pursuant to the requirements of federal
law and the policies of the Town of West Hartford for said projects.
Said authorized expenditures shall include related administrative
and other expenses as are properly incurred incident to the operation
of the Housing Rehabilitation Grant/Loan Program.
Each year, as part of the regular Budget Appropriation
Ordinance adopted by the Town Council, the Council shall appropriate,
in accordance with all applicable requirements of the Town Charter
and with requirements of federal law, the unobligated fund balance,
plus the anticipated loan repayments and other income, to said fund
for purposes of the Housing Rehabilitation Grant/Loan Program.
