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(d) Prior to adoption, the committee shall hold as public hearing on a proposed redevelopment plan for the designated district and shall consider the comments received and incorporate any revisions to the p an that may be necessary. (e) The committee shall submit an annual report on the progress of the redevelopment project to the board . The report may include the Yedeve lopment plan recommended by the commi-ttee with its recommendations for appropriations by the legislature or the authorizati-on of bonds or both, to implement the redevelopment plan in as timely manner . The board shall review and approve the recommended redevelopment plan and shall submit the report to the governor and the legislature with a request for the required appropriations and bond authorization . §171-F Designated redevelopment district revolving fund. (a ) A separate revolving fund shalL be established foi each redevelopment district designated pursuant to section 171 -B, into which shall be deposited: (1) filly per cent of the revenuec Nome, and receols of the dee annient From OIC J)Ubfic lands in the designated KIM, n=%Manding sectio n 1.11.,.19; (2) Moneys approl)rialed by the legiSkItUre I.o the revolving fund; and (3) Any gifis, grmun and other Wds accepted hay the coininklee. Each revolving fund shall bear the name used by the legislature in designating the redevelopment district . (b) Moneys in each designatRd redevelopment district revolving fund shall be expended by the committee and used in the designated district for the purposes of this pan ; provided that no expenditure shall be made from the fund and no obligation shall he incurred against the fund in excess of' the amount standing to the credit of the fund, (c) After the committee is dissolved, the unencumbered balanM remaining in the corresponding redevelopment distrdct revolving fund shall