§ 2-284. Creation of local housing assistance trust fund.

(a)

The local housing assistance trust fund is hereby created and established.

(b)

All monies received by the county pursuant to the State Housing Initiatives Partnership Act and any other funds received or budgeted to provide funding for the county's local housing assistance program shall be deposited into the county's local housing assistance trust fund. The county shall comply with SHIP program requirements and F.A.C. ch. 9I-37 in the expenditure and administration of the county's local housing assistance trust fund.

(c)

Only expenditures for the administration and implementation of the county's local housing assistance program shall be made from the local housing assistance trust fund.

(d)

Investment earnings, if any, from the monies on deposit in the county's local housing assistance trust fund shall be retained in such fund and for the purposes provided thereof.

(e)

The county's local housing assistance trust fund shall be separately stated as a special revenue fund in the county's audited financial statements. Copies of such audited financial statements shall be forwarded to the Florida Housing Finance Agency.

(Ord. No. 93-13, § 4, 4-27-93)