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File #: 2015-1756    Version: 1
Type: Resolution Status: Passed Finally
File created: 6/19/2015 In control: Committee on Finance and Law
On agenda: 6/23/2015 Final action: 7/7/2015
Enactment date: 7/7/2015 Enactment #: 425
Effective date: 7/9/2015    
Title: Resolution authorizing and directing the City Controller to create a special trust fund, to be designated as the "Facilities Trust Fund," for the purpose of depositing and segregating funds for the exclusive use of maintenance, capital investment, acquisition, and disposition of City-owned facilities.
Indexes: TRUST FUND
Title
Resolution authorizing and directing the City Controller to create a special trust fund, to be designated as the "Facilities Trust Fund," for the purpose of depositing and segregating funds for the exclusive use of maintenance, capital investment, acquisition, and disposition of City-owned facilities.
 
Body
WHEREAS, the City of Pittsburgh now desires to establish an irrevocable trust fund to hold the proceeds of any dispositions of City facilities for the purpose of the further preservation of existing City-owned facilities;
 
Be it resolved by the Council of the City of Pittsburgh as follows:
 
Section 1.      The Director of the Office of Management and Budget is hereby authorized and directed to create a special trust fund, to be designated as the "Facilities Trust Fund," for the deposit of funds to be used for the exclusive and irrevocable purpose of funding the maintenance, capital investment, acquisition, and disposition of City-owned facilities. The Facilities Trust Fund shall be funded from any proceeds received from the disposition of a facility.