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Home My WebLink AboutO-11092J-93-563 8/11/93 11092 ORDINANCE NO. AN ORDINANCE MAKING APPROPRIATIONS FROM THE DOWNTOWN DEVELOPMENT DISTRICT AD VALOREM TAX LEVY AND OTHER MISCELLANEOUS INCOME FOR THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA, FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1993, AND ENDING SEPTEMBER 30, 1994; AUTHORIZING THE EXECUTIVE DIRECTOR OF THE DOWNTOWN DEVELOPMENT AUTHORITY TO INVITE OR ADVERTISE REQUIRED BIDS; PROVIDING FOR BUDGETARY FLEXIBILITY; PROVIDING THAT THIS ORDINANCE BE DEEMED SUPPLEMENTAL AND IN ADDITION TO THE ORDINANCE MAKING APPROPRIATIONS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 1993, AND ENDING SEP`iMBER 30, 1994, FOR THE OPERATIONS OF THE CITY OF MIAMI; CONTAINING A REPEALER PROVISION, SEVERABILITY CLAUSE AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Board of Directors of the Downtown Development Authority of the City of Miami, Florida,has approved and submitted to the City Commission a Budget Estimate of the expenditures and revenues of the Downtown Development Authority for the Fiscal Year beginning October 1, 1993, and ending September 30, 1994, as prepared by the Executive Director of the Downtown Development Authority, copies of such estimates having been made available to the newspapers of the City; and WHEREAS, the City Commission has reviewed the Downtown Development Authority's Budget; NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Ordinance are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. 11092 Section 2. The following appropriations for the Fiscal Year 1993-1994 are hereby approved for the maintenance and for the purpose of financing the operations and other legal and proper purposes of the Downtown Development Authority of the City of Miami, Florida: Appropriate Amount Personnel Services $ 550,000 Special Projects/Marketing $ 312,000 Operating Expenses $ 379,893 Sub -Total Required Funds $1,241,893 Reserve For Tax Shortfall $ 50,000 Total Appropriated Funds $1,291,893 SOURCE OF REVENUE Ad Valorem Tax bevy Within The Downtown Development District $1,260,940 OTHER REVENUE Miscellaneous Income $ 30,953 Total Revenue for Budget $1,291,893 Section 3. Said appropriations are the anticipated expenditure requirements for the Downtown Development Authority for the period October 1, 1993, to September 30, 1994, but are not mandatory should efficient administration of the Downtown Development Authority or altered economic conditions indicate that a curtailment in certain expenditures is necessary. The Board of Directors of the Downtown Development Authority is specifically authorized to withhold any of these appropriated funds from encumbrance or expenditure should such action appear advantageous to the economical and efficient operation of the Downtown Development Authority. Section 4. The Downtown Development Authority is hereby authorized to make transfers between the detailed accounts comprising any of the amounts appropriated by Section 2 hereof, in order that the available and required balance in any such account may be used for other necessary and proper purposes. -2- 11092 Section 5. The Downtown Development Authority is hereby authorized to invite or advertise for bids for the purpose of any material, equipment or services embraced in the aforementioned appropriations, for which formal bidding is required, such bids to be returnable as required by law. Section 6. This Ordinance shall be deemed supplemental and in addition to the ordinance making appropriations for the Fiscal Year beginning October 1, 1993, and ending September 30, 1994, for operations of the City of Miami. Section 7. All ordinance or parts of ordinances insofar as they are inconsistent or in conflict with the provisions of this Ordinance are hereby repealed. Section 8. If any section, part of this section, paragraph, clause, phrase or word of this Ordinance is declared invalid, the remaining provisions in this Ordinance shall not be affected. Section 9. This Ordinance shall become effective thirty (30) days after final reading and adoption thereof. PASSED ON FIRST READING BY TITLE ONLY this 7± h— day of September , 1993. PASSED AND ADOPTED ON SECOND AND FINAL READING BY TITLE ONLY this 27th day of September , 1993. CITY CLERK PREPARED AND APPROVED BY: 1'J '�", t ,d4 E. MAXWELL IEF ASSISTANT TY ATI�ORNEY JEM/mis/M1046 XAVIER L,. 0 APPROVED AS TO FORM AND CORRECTNESS: ad A. QUI?, III CITY AITOR -3- 11092 46 CITY OF MIAMI, FLORIDA ,. INTER -OFFICE MEMORANDUM TO The Honorable Mayor and Members of the City Commission FROM : C e s d i o Cit ager Recommendation DATE : j Z U WW FILE SUaiECT : DDA FY' 1993-1994 Appropriations Ordinance REFERENCES: For September 7, 1993 ENCLOSUREt i t y Commission Meeting It is respectfully requested that the City Commission adopt the attached Ordinance making appropriations for the Downtown Development Authority for the Fiscal Year beginning October 1, 1993 and ending September 30, 1994. Background Chapter 14 of the City of Miami Code authorizes the City Commission to levy additional ad valorem tax on all real and personal property within the Downtown Development Authority District for the purpose of financing the operations of the Downtown Development Authority. The proposed DDA Budget for Fiscal Year 1993-1994 is based on an estimated reduction in revenues of $48,143 (3.7%). Attached is an Ordinance for City Commission approval which makes appropriations for the Downtown Development Authority for the Fiscal Year beginning October 1, 1993 and ending September 30, 1994. CHO/MDS/jt enc1 r tl I 11092 DOWNTOWN DEVELOPMENT AUTHOR;TY One Biscayne Tower. Suite 1610 Miami. Florida 33131 Tel . (305) 579-6675 Fax (305) 371.2423 July 30, 1993 MEMORANDUM TO: Cesar H. Odio Cit ana er FROM: Ma, hew grtz E e`cutive Director RED ,VE0) 93 JUL -3 PM 6: 11 RE: City Commission Agenda Item Downtown Development Authority Fiscal Year 1993-1994 Appropriations Ordinance Attached is an Agenda Package for a proposed Ordinance setting the Downtown Development Authority Budget Appropriations for the Fiscal Year beginning October 1, 1993 and ending September 30, 1994. Please place this Item of the September 7, 1993 City Commission Agenda. MDS/jt encl 11092