[Adopted 8-5-1996; amended in its entirety 12-2-2002]
There shall be a Foreclosure Fund created to
incorporate all income and expenses associated with the foreclosure
of delinquent real property taxes and water, sewer and sanitation
use charges.
Income shall include but not be limited to the
amount budgeted or appropriated by the Common Council for this purpose,
fees, costs and expenses, including attorney's fees awarded by the
court upon the entry of a foreclosure judgment, and grant monies for
the acquisition of properties by the City through strict foreclosure
judgments, payable to the City of Middletown.
[Amended 5-2-2013 by Ord. No. 11-13]
Expenditures shall only be made from the fund
for the costs, fees and expenses associated with the commencement
and the prosecution of a foreclosure lawsuit including only entry
fees; sheriff's fees; appraisal fees; and attorney's fees in an amount
not to exceed $500 in the event that outside counsel is not able to
be awarded attorney's fees by the Superior Court. Said expenditures
shall be made from the fund by the Director of Finance in accordance
with the directions of the General Counsel and/or Mayor and shall
be subject to normal budgetary procedures and appropriation action.
