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submit them to the Batesville City Council for review . The City <br /> Council , along with the Mayor, will review all applications and <br /> rank the applications in descending order . The Mayor and City <br /> Council will consider which applications will best fulfill the <br /> economic goals and objectives of the Economic Development Grant <br /> Program. <br /> The Mayor and City Council shall then award the Economic <br /> Development Grant , or Grants , to the applicants based upon their <br /> rank order on the list of grant applications described above . <br /> The grant or grants may be awarded until all funds appropriated <br /> by the City Council for the next calender year have been <br /> expended . No grants will be awarded in excess of the amount <br /> budgeted by the City Council for the Economic Development Grant <br /> ® Program in any particular calender year . <br /> 5 . ADMINISTRATION OF THE GRANT PROGRAM. The Mayor of the <br /> City of Batesville will administer the Grant Program authorized <br /> under this Ordinance . The Mayor shall take all actions <br /> reasonably necessary to insure that the funds are used for the <br /> purposes for which the Grant is to be awarded . <br /> Organizations receiving Economic Development Grants shall <br /> file quarterly reports with the Mayor of the City of Batesville . <br /> Said reports shall explain the exact amount of expenditures of <br /> all Grant funds , the purposes for which the grant was awarded and <br /> expended, the economic development goals and objectives that were <br /> accomplished in that particular quarter , and demonstrate that all <br /> expenditures were reasonably necessary to accomplish the <br />