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ORDINANCE NO.
A14 ORDINANCE OF THE CITY OF MIAMI AUTHORIZ-
ING PAYMENT INTO THE SOUTHEAST OVERTOWN/
PARK WEST REDEVELOPMENT TRUST FUND; AUTHOR-
IZING THE CITY OF MIAMI TO TAKE FULL
MANAGEMENT RESPONSIBILITY FOR THE FUND; AND
PROVIDING FOR SEVERABILITY, INCLUSION IN
THE CODE AND AN EFFECTIVE DATE.
WHEREAS, the City of Miami by Resolution No. 82-755 has
approved in principal the Southeast Overtown/Park West Community
Redevelopment Plan (hereinafter referred to as the PROJECT); and
WHEREAS, Dade Cout,*&.y.,by Resolution No. 1677-82 has approved
tom.
the PROJECT estab 'shing,tboutheast Overtown/Park West Project
Area (hereinafter,rrefeired to ap PROJECT AREA) as a separate
community redevelopmept-aFea for tax increment financing purposes;
and
WHEREAS, Dade County 7,nance-P94,32-115 has established
and created in accordance with the
pr visions of Florida Statute,
Section 163.387, a Redevelopment Trust Fund (hereinafter referred
to as the FUND) and has authorized allocat_' n of monies from such
FUND;
ti�ry
NOW, THEREFORE, BE IT ORDAINEE� B THE COMMISSION OF THE
CITY OF MIAP4I, FLORIDA: '.�
4
Section 1. Chapt*r of the of the City of
Miami, Florida is hereby enacted as follows-
CHAPTE
REDEVELOPMENT TRUST FUND •--""
Sec. 1. PAYMENTS INTO FUND Y CITY. -7M
There shall be paid i o the F and the city
hereby appropriates, co and sets over for
payment into the FUND, a sum equal to that
increment from the income proceeds, revenues and
FUNDS of the city derived from, or held in
connection with the PROJECT AREA, and the city's
undertaking and carrying out of the PROJECT AREA
therein. Such increment shall be determined and
appropriated annually, and shall be an amount
equal to the differs
(a) That amour 6MEETINIG
MISSION
debt service ad valc OF
the city on taxablein the geographic beand i"""•»w'.....• ����