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File #: 2016-0723    Version: 1
Type: Resolution Status: Passed Finally
File created: 8/26/2016 In control: Committee on Finance and Law
On agenda: 8/30/2016 Final action: 9/13/2016
Enactment date: 9/13/2016 Enactment #: 534
Effective date: 9/20/2016    
Title: Resolution providing for the creation of an escrow trust fund for the Three Taxing Bodies Property Escrow Account and setting conditions for the deposit and expenditure of such funds. This fund is meant to provide for J D Edwards (ERP system) tracking and accounting of escrow monies for property sales.
Indexes: TRUST FUND
Attachments: 1. 2016-0723 Summary

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Resolution providing for the creation of an escrow trust fund for the Three Taxing Bodies Property Escrow Account and setting conditions for the deposit and expenditure of such funds. This fund is meant to provide for J D Edwards (ERP system) tracking and accounting of escrow monies for property sales.

 

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Be it resolved by the Council of the City of Pittsburgh as follows:

 

Section 1.                     The City Controller is hereby authorized and directed to create an escrow account entitled the “Three Taxing Bodies Property Escrow Account” into which shall be deposited hand money and objector money for sales. The fund may only be used in order to hold hand money to be transferred to the Three Taxing Bodies Trust Fund for a completed sale or refund money from an invalid sale.