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D. Amounts on deposit in the Indian River County Local <br />Housing Assistance Trust Fund may be invested as permitted by <br />Federal, State and Local law. All investment earnings shall be <br />retained in the Indian River County Local Housing Assistance Trust <br />Fund and used for the purposes thereof. <br />E. Until utilized for the purposes thereof, monies in the <br />Indian River County Local Housing Assistance Trust Fund shall be <br />held in trust by the county solely for use pursuant to the Indian <br />River County Local Housing Assistance Program. <br />F. The Indian River County Local Housing Assistance Trust <br />Fund shall be separately stated as a special revenue fund in the <br />county's audited financial statements. Copies of such audited <br />financial statements shall be forwarded to the Florida Housing <br />Finance Agency as soon as available. <br />SECTION IV. ESTABLISHMENT OF THE INDIAN RIVER COUNTY LOCAL <br />HOUSING ASSISTANCE PROGRAM <br />A. The Indian River County Local Housing Assistance Program <br />0 <br />is hereby created and established. <br />Be The intent of the Indian River County Local Housing <br />Assistance Program is to increase the availability of affordable <br />housing units to Eligible Persons by combining local resources and <br />cost-saving measures into an Indian River County Local Housing <br />Partnership and using private and public funds to reduce the cost <br />of housing. <br />C. The Indian River County Local Housing Assistance Program <br />shall use the funds held in the Indian River County Local Housing <br />Assistance Trust Fund to implement the Indian River County Local <br />Housing Assistance Plan. <br />D. The distribution and expenditure of funds from the Indian <br />River County Local Housing Trust Fund for implementing and <br />conducting the Indian River County Local Housing Assistance Program <br />shall comply with the following distribution requirements: <br />(1) A minimum of sixty-five (65) percent of the funds shall <br />be reserved for Local Housing Assistance Program <br />