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Resolution amending resolution No. 425 of 2015, authorizing and directing the City Controller to create the “Facilities Trust Fund”, to include revenue generated from leasing City facilities as a source of revenue for the fund.
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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 or lease of a facility.