A. 
There is hereby established a special revenue fund for the city of Yelm, to be known as the "affordable housing sales tax fund," into which shall be deposited all monies received from a portion of sales and use taxes otherwise required to be collected and paid to the Department of Revenue pursuant to legislation enacted by the 2019 Washington State Legislature.
B. 
This fund has been established to receive that portion of sales and use tax credited back to the city for the acquisition, construction or rehabilitation of affordable housing or facilities providing supportive housing, and for the operations and maintenance costs of new units of affordable or supportive housing and, if eligible, for providing rental assistance to tenants.
C. 
Any unexpended funds remaining in the affordable housing sales tax fund at the end of a budget period shall not be transferred to the general fund or otherwise lapse, but funds shall be carried forward from year to year until expended for a purpose set forth in subsection B of this section.
(Ord. 1063 § 5, 2020)