HARRY HUGHES, Governor

1377

(VI) THE COST INCURRED FOR OS INCIDENTAL
TO DOING ANYTHING ENUMERATED IN THIS PARAGRAPH, INCLUDING
THE COST AND EXPENSE OF SECURING:

1.   ADMINISTRATIVE,                   APPRAISAL,
ECONOMIC, AND ENVIRONMENTAL ANALYSIS;

2.   ENGINEERING SERVICE;

3.   PLANNING SERVICE;

4.   DESIGN SERVICE;

5.   ARCHITECTURAL SERVICE;

6.   SURVEYING SERVICE; AND

7.   OTHER PROFESSIONAL SERVICE.

(D)   "FUND" MEANS THE INDUSTRIAL AND COMMERCIAL
REDEVELOPMENT FUND.

(E)   "POLITICAL SUBDIVISION" INCLUDES A COUNTY OR
MUNICIPAL CORPORATION AND ITS DESIGNATED AGENCY OR
INSTRUMENTALITY.

(F)   "SECRETARY" MEANS THE SECRETARY OF ECONOMIC AND
COMMUNITY DEVELOPMENT.

461.

(A)   THERE IS AN INDUSTRIAL AND COMMERCIAL
REDEVELOPMENT FUND.

(B)   THE FUND IS A CONTINUING, NONLAPSING SPECIAL FUND
THAT CONSISTS OF MONEYS APPROPRIATED BY THE STATE TO THE
FUND AND OF ANY REPAYMENT OF PRINCIPAL OR INTEREST ON A LOAN
MADE FROM THE FUND.

(C)   THE DEPARTMENT SHALL MANAGE AND SUPERVISE THE
FUND.

(D)   THE STATE TREASURER SHALL HOLD, AND THE STATE
COMPTROLLER SHALL ACCOUNT FOR THE FUND.

(E)   THE FUND SHALL BE INVESTED AND REINVESTED IN THE
SAME MANNER AS OTHER STATE FUNDS. ANY INVESTMENT EARNINGS
OF THE FUND SHALL BE PAID INTO THE STATE GENERAL TREASURY.

(F)   ON JULY 1 OF EACH YEAR, MONEYS IN THE FUND IN
EXCESS OF $15,000,000 SHALL BE PAID OVER TO THE STATE
GENERAL TREASURY.

462.

(A) THE DEPARTMENT MAY MAKE A LOAN OR GRANT TO A
POLITICAL SUBDIVISION TO COVER PART OF THE ELIGIBLE PROJECT