§ 36-7-16-3 — Appropriations; federal monies and monies received on resale of property; grants to homeowners

(a) A unit having an agency may appropriate
money to the agency for the purpose of making rehabilitation loans and
administering this chapter.
(b) The unit, through its agency, may use federal monies that it
receives for these purposes and monies that it receives as a result of the
sale or lease of property to which it has held title as a result of failure
to comply with the terms of a loan or grant made under this chapter.
(c) A unit, through its agency, may make home rehabilitation grants
to bona fide homeowners, if the monies used for these grants are
received only from federal grants and are appropriated under the terms
and regulations of the granting federal entity. Federal grants that may
be used under this subsection include monies appropriated to units
under the 1974 Community Development Act, as amended (42 U.S.C.
sections 5301-5318).
[Pre-Local Government Recodification Citation: 18-7-7.5-2
part.]
As added by Acts 1981, P.L.309, SEC.35.