§ 10-46. Special fund established.

Latest version.

There is hereby established a special fund as a separate fund into which all tax increment revenues and other revenues, if any, designated by the city council for the benefit of the redevelopment district shall be deposited, and from which all project costs shall be paid. As provided in the Act (A.C.A. § 14-168-301 et seq.), the special fund may be assigned to and held by a trustee for the benefit of bondholders if tax increment financing is used.

(Ord. No. 693, § 5, 12-21-2004)

                    
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