5.04.320 Sewer Revolving Loan Fund.

City Code Section

(Added by Ordinance 166407, effective April 7, 1993.) 

  1. The Sewer Revolving Loan Fund is hereby made a part of the Code of the City of Portland, Oregon, for the receipt of monies derived from transfers made to the Fund from the Sewer System Operating Fund, and monies derived from the re-payment of loans made to properties participating in the Private Plumbing Revolving Loan Program.  Monies from this Fund, including interest earned by the Fund, shall be used for making loans to certain owners of single-family residential property located in the Mid-Multnomah County Sewer System Project, and shall be expended only for duly authorized payments to cover the costs of implementing the Private Plumbing Revolving Loan Program.  Money in the Sewer Revolving Loan Fund may be commingled with other City money for investment purposes.  Should this Fund become unnecessary any monies remaining in this Fund shall be paid to the Sewer System Construction Fund.