BY PRESIDENT GILBERT:
ORDINANCE NO. __________
AN ORDINANCE ABOLISHING THE
DULUTH HOUSING TRUST FUND; REPEALING SECTION 20-23 OF THE DULUTH CITY CODE,
1959, AS AMENDED.
The city of Duluth does ordain:
Section 1. That Section 20-23
of the Duluth City Code, 1959, as amended, be repealed in its entirety.
Section 2. That this ordinance
shall take effect and be in force 30 days from and after its date of passage
OF PURPOSE: The purpose of this ordinance is to repeal
Section 20-23 of the Duluth City Code which created the Duluth housing
trust fund as a specially designated account to be used for housing-related
purposes by the Duluth Housing Trust Fund, Inc. In 1997, the majority of
the corporation's assets were transferred to the Local Initiatives Support
Corporation. The remaining monies in the trust fund have been expended
and the corporation has been dissolved.