§ 3.15.017. Electric Utility Rural Economic Development Revolving Fund created.

There is hereby established in the City Treasury a fund for the fiscal administration and accounting of revenue appropriated by the City Council from the Lighting Fund for economic development activities to be overseen and directed by the Economic Development Steering Committee. Said fund shall be entitled "Electric Utility Rural Economic Development Revolving Fund No. 150" and shall be administered consistent with the requirements of Chapter 82.16 RCW.

The Finance Committee shall have the authority and responsibility to oversee and direct the activities, and to serve as the Board of Directors, of the Electric Utility Rural Economic Development Revolving Fund as set forth in PAMC 3.15.017 and Chapter 82.16 RCW. The Committee shall have the authority and responsibility to determine all criteria and conditions for the expenditure of funds from the Electric Utility Rural Economic Development Revolving Fund and for the terms and conditions of repayment.

(Ord. 3210 § 2, 7/15/2005; Ord. 3024 § 1, 9/17/1999)