[Adopted 8-5-1996; amended in its entirety 12-2-2002]
There shall be a Foreclosure Fund created to incorporate all income and expenses associated with the foreclosure of delinquent real property taxes and water, sewer and sanitation use charges.
Income shall include but not be limited to the amount budgeted or appropriated by the Common Council for this purpose, fees, costs and expenses, including attorney's fees awarded by the court upon the entry of a foreclosure judgment, and grant monies for the acquisition of properties by the City through strict foreclosure judgments, payable to the City of Middletown.
[Amended 5-2-2013 by Ord. No. 11-13]
Expenditures shall only be made from the fund for the costs, fees and expenses associated with the commencement and the prosecution of a foreclosure lawsuit including only entry fees; sheriff's fees; appraisal fees; and attorney's fees in an amount not to exceed $500 in the event that outside counsel is not able to be awarded attorney's fees by the Superior Court. Said expenditures shall be made from the fund by the Director of Finance in accordance with the directions of the General Counsel and/or Mayor and shall be subject to normal budgetary procedures and appropriation action.