Subject: 19817/Loan-GenFund/HomeInvestmentPartnershipFund
Date: Mon, 19 Apr 1993 15:34:00 -0500


                            RESOLUTION NO.   19817   
                   
                   
                   A RESOLUTION AUTHORIZING A LOAN IN THE 
                   AMOUNT OF TEN THOUSAND AND NO/100 DOLLARS 
                   ($10,000.00) FROM THE GENERAL FUND TO THE 
                   HOME INVESTMENT PARTNERSHIP FUND TO COVER 
                   OPERATING COSTS UNTIL REIMBURSEMENT IS 
                   RECEIVED FROM THE DEPARTMENT OF HOUSING AND 
                   URBAN DEVELOPMENT.
                   
                                                     
                   
                   
       	    	 WHEREAS, Resolution No. 19359 authorizes the City of 
       Chattanooga to participate in the Department of Housing and Urban 
       Development's (HUD) HOME Investment Partnerships Program enacted 
       under Title II of the Cranston-Gonzalez National Affordable 
       Housing Act (Public Law 102-625); and
       	    	 WHEREAS, HUD requires that the City establish a HOME 
       investment trust fund to account for all HOME program funds; and
       	    	 WHEREAS, it is desirable that $10,000 in operating funds 
       be made available from the City's General Fund until 
       reimbursements are received from HUD; and
       	    	 WHEREAS, such loan will be returned to the General Fund 
       at the termination of the Program;
       	    	 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF 
       THE CITY OF CHATTANOOGA, TENNESSEE, That the Mayor and the City 
       Finance Officer be and are hereby authorized to make a $10,000 
       loan from the General Fund to the HOME Investment Trust Fund for 
       operating funds, such loan to be repaid at the termination of the 
       Program.
       ADOPTED:	 April 27, 1993
       
       :cjc