[Adopted 4-20-1994 by Ord. No. 94-08]
A Longport Shore Front Protection Trust Fund is hereby established.
The Commissioner of Revenue and Finance open a bank account designated Longport Shore Front Protection Trust Fund in any banking institution authorized to accept Borough funds, including National Community Bank of New Jersey, now Bank of New York, and any account so opened for this purpose shall be and the same is hereby ratified.
The signatories to said account shall be in accordance with Ordinance No. 92-13.[1]
[1]
Editor's Note: Ordinance No. 92-13 was superseded by Ord. No. 95-13. See Ch. 6, Check and Draft Signatures.
Designated funds received by the Borough of Longport shall be placed into said account.
The funds shall be drawn from this account for shore front protection and closely related purposes only.