Vallejo Municipal Code Ch. 3.34 Senate Bill 966 Housing Rehabilitation Loan Fund

There is created, pursuant to Section 713 of the Charter of the city, a special trust fund to be known and referred to as the "Senate Bill 966 Housing Rehabilitation Loan Fund" into which shall be deposited all funds received under the loan agreement made and entered into between the state of California and the city, dated September 4, 1979, pursuant to Senate Bill 966 (Statues 1978, Chapter 884) which added Chapter 6.5 (commencing with Section 50660) to Part 2, Division 31 of the Health and Safety Code of the state of California.

(Ord. 506 N.C.(2d) § 1 (part), 1979.)

Moneys deposited in the Senate Bill 966 Housing Rehabilitation Loan Fund, including any interest earned thereon, shall be expended only in accordance with the laws and ordinances, and procedures promulgated thereunder applicable to the expenditure of restricted special revenues of the city, and shall be used during such reasonable period or periods as may be provided by regulations issued by the Director of the California Department of Housing and Community Development pursuant to law.

(Ord. 506 N.C.(2d) § 1(part), 1979.).

The procedures utilized by officers and employees of the city in the fiscal management, accounting, and auditing operations pertaining to control and disbursement of the money shall conform to rules and guidelines established by the director of the California Dement of Housing and Community Development. After reasonable notice, the officers and employees of the city having charge of the books, documents, papers and records relating to the money shall, upon authorization of the city manager, make same available to the director of the California Department of Housing and Community Development, and other authorized officials of the federal and state governments, or their respective designees, so that compliance with the provisions of Chapter 6.5 (commencing with Section 50660), Part 2, Division 31 of the California Health and Safety Code may be determined and assured. The city manager or such qualified officer or employee of the city as he designates shall make annual and interim reports as the director of the California Department of Housing and Community Development may reasonably require.

(Ord. 506 N.C.(2d) § 1(part), 1979.)