HomeMy WebLinkAboutBack-Up from Law Dept• Sec. 14-59. - Annual budget; source of funds.
(a) No later than 30 days prior to the date the city commission establishes the
millage rate for the city, the executive director shall prepare for the approval of the board
a budget for the operation of the downtown
ijeveloprnernt authority for the ensuing fiscal year. The budget shall be prepared in the
same manner as required of all departments of the city. When approved by the board it
shall not require approval of any officer or body of the city other than the city
commission. No funds of the city may be included in the budget of the a tlaor!ty except
those funds authvt`rze"ci in this article.
(b) The operations of the downtown rleve1opme0t authorLty shall be principally
financed from the following sources and such other sources as may be approved by the
city commission:
(1) Donations to the Outh66 for the performance of its functions.
(2) Proceeds of an ad valorem tax, not exceeding 0.4750 mills per dollar
valuation of property in the downtown area designated by the city commission.
(3) Money borrowed and to be repaid from other funds received under
the a#bent* of this article which shall include federal funds, contributions and
funds derived from the millage'ObillOrizet to be levied under this article.
(Code 1967, § 13-12; Code 1980, § 14-33; Ord. No. 12905, § 2, 4-12-07; Ord. No. 13573,
§ 2, 11-19-15)
• Sec. 14-60. - Annual ad valorem tax levy in downtown district;
disposition of funds.
The city commission is Rif*(10 to levy an additional ad valorem tax on all real and
personal property in the downtown district as described in this article, not exceeding
0.4750 mills on the dollar valuation of such property, for the purpose of financing the
operation of the downtown `developmeht t orlfy. This levy of 0.4750 mills per dollar ad
valorem tax shall be in addition to the regular ad valorem taxes and special assessments
for improvements imposed by the city commission. The tax collector shall transmit funds so
collected to the appropriate officer of the city responsible for the handling of the public
money who shall deposit the same in the city treasury to the credit of the authority. Such
money shall be used for no purpose other than those purposes uthorized' in this article
and, upon approval of the board, pursuant to vouchers signed by a minimum of two
1 cMzz i signatories of the #:64y, who shall be the executive director and one
member of the board of directors, or two members of the board of directors. The funds of
the rrV shall be secured as other public funds are secured. Other money received by
the &5173676 shall forthwith be deposited in the city treasury to the credit of the Ft,
subject to disbursement as in this article. The city shall not obligate itself nor
shall it ever be obligated to pay any sums from general public funds, or from any public
funds other than money received pursuant to section 14-59 for or on account of any of the
activities of the authority.
(Code 1967, § 13-13; Code 1980, § 14-34; Ord. No. 12905, § 2, 4-12-07; Ord. No. 13573, § 2,
11-19-15)