00-039-O

ORDINANCE NO. __________

AN ORDINANCE ABOLISHING THE DULUTH HOUSING TRUST FUND; REPEALING SECTION 20-23 OF THE DULUTH CITY CODE, 1959, AS AMENDED.

BY PRESIDENT GILBERT:

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 That Section 20-23 of the Duluth City Code, 1959, as amended, be repealed in its entirety.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 and publication.


STATEMENT 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.