§ 111-5. Recovery zone economic development bonds—Eligible activities/projects.

Eligible activities/projects that qualify for issuance of recovery zone economic development bonds include activities/projects within the recovery zone that promote economic development, as measured by the criteria set forth in section 111-7 herein, and may include:

(1)

Capital expenditures paid or incurred with respect to property located in the recovery zone.

(2)

Expenditures for public infrastructure and construction of public facilities;

(3)

Expenditures for job training and educational programs;

(4)

Working capital expenditures to promote development of other economic activity.

(Ord. No. 2009-025, §§ 1, 2, 9-15-09)