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(3) <br /> <br /> (4) <br /> (d) <br /> <br />3. <br /> (a) <br /> <br /> (b) <br /> <br />4. <br /> (a) <br /> <br /> (b) <br /> <br />5. <br /> (a) <br /> <br />(b) <br /> (1) <br /> <br />(2) <br />(3) <br /> <br />(c) <br /> (1) <br /> <br />(2) <br /> <br />(3) <br /> <br />Costs associated with the annual clean-up day. <br /> <br />This fund is not eligible for inter-fund loans. <br /> <br />Community Development Block Grant Fund. <br />The Community Development Block Grant Fund shall be used to account for all <br />revenues and expenditures in conjunction with the Community Development <br />Block Grant (CDBG) program activities. <br /> <br />This fund is not eligible for inter-fund loans. <br /> <br />Future Sealcoating Fund. <br />The Future Sealcoating Fund shall be used to account for contributions from <br />developers and property owners for future sealcoating work. <br /> <br />This fund is eligible for inter-fund loans. <br /> <br /> Revolving Loan Fund. <br />The Revolving Loan Fund shall be used to account for loans authorized by the City <br />of Ramsey to prospective private businesses in accordance with Chapter 469 of <br />the Minnesota State Statutes. <br /> <br />Funding shall consist of the following sources: <br /> Funds made available by the Minnesota Department of Trade and Economic <br /> Development and the City of Ramsey; and <br /> Interest Collected on loaned funds during the term of the loan; and <br /> Interest earnings on the Revolving Loan Fund from the distribution of pooled <br /> interest earnings. <br /> <br />Expenditures shall consist of the following uses: <br />Loans to small businesses are to be used on eligible costs such as land <br />improvements, purchase or renovation of building, purchase machinery or <br />equipment, building construction, leasehold improvements, or any authorized <br />expenditure, provided that no funds are to be used for management fees, financing <br />costs, franchise fees, debt repayment or consolidation, moving costs, refinancing <br />and operating costs or working capital; and <br />The maximum loan available from the Revolving Loan Fund to an eligible project <br />is limited to $300,000 or 40% of total project cost, whichever is less; and <br />The minimum loan amount available from the Revolving Loan Fund to an eligible <br />project is $25,000. <br /> <br />(d) This fund is eligible for inter-fund loans. <br /> <br />Page 3 of 13 <br /> <br /> <br />