§ 70-151. Established.

(a)

There is hereby established, in conformity with section 6-201 of the Charter, a Vieux Carré Residential Fund, which shall receive payments from individuals or businesses who wish to encourage residential uses in the Vieux Carré and which shall be used only for public purposes which help to retain or increase residential uses within the boundaries of the Vieux Carré National Register Historic District.

(b)

The fund hereby established shall be administered by the director of the department of finance and shall be kept in an interest bearing account with interest accruing to the benefit of and to become a part of the fund.

(c)

Conditional donations to the fund shall be reviewed by the board of city trusts as required by section 5-402 of the Charter.

(d)

Expenditures from the fund shall be made only pursuant to an appropriation of the city council. Prior to consideration of an ordinance appropriating monies from this fund, the council shall request the comments of the Vieux Carré Commission and the board of city trusts upon the proposed expenditure. If such comments have been received within 30 days of the request therefor, the council may consider and act upon such proposed appropriation.

(Code 1956, § 2-28.2)