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The operation of the housing trust fund shall be as follows:

(1) Allocations of housing trust fund resources shall be made by county council for projects completing an application process to be coordinated by the department of human services;

(2) The council may accept gifts or bequests for the housing trust fund and may make contributions to the fund from time to time in such amounts as it deems necessary to further the purposes of the fund; and

(3) Any monies in said fund at the end of the fiscal year shall not lapse nor shall the same be made available as a surplus or used for any other purpose or purposes than those specified, except as provided by state law. (Added by Ord. 89-125, Nov. 8, 1989; Amended by Amended Ord. 05-107, Nov. 21, 2005, Eff date July 1, 2006).