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i
ORDINANCE NO. 4198--86
AN ORDINANCE OF THE CITY OF - CLEARWATER, FLORIDA,
RELATING TO THE REDEVELOPMENT TRUST FUND; AMENDING
SECTIONS 2 AND 3 AND CREATING A NEW SECTION 8 WITHIN
ORDINANCE 2779-82, WHICH ESTABLISHED THE
a REDEVELOPMENT TRUST FUND, TO PROVIDE FOR PAYMENT
INTO THE TRUST FUND OF AN AMOUNT EQUAL TO 95% OF THE
INCREMENT RECEIVED FROM THE REDEVELOPMENT AREA,
i AND TO REQUIRE THE CITY TO FURNISH PINELLAS COUNTY
WITH A COPY OF THE COMMUNITY REDEVELOPMENT AGENCY
r;
AUDIT REPORT EACH YEAR; PROVIDING AN EFFECTIVE DATE.
n WHEREAS, Ordinance 2779-82 provided for and established a Redevelopment
}
Trust Fund pursuant to Section 163.387, Florida Statutes; and
WHEREAS, it is necessary to amend Ordinance 2779-82 in order to recognize
certain amendments to Section 163.387, Florida Statutes, and to Ordinance 82-34 of
Pinellas County, which provided for the appropriation of tax increment revenues of the
County to the trust fund;
11 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF CLEARWATER, FLORIDA:
Section 1. Sections 2 and 3 of Ordinance 2779-82 are amended to read:
Section 2. Monies Appropriated To And Comprising the Fund
r? rur,
The Redevelopment Trust Fund shall consist of, and the City of Clearwater
hereby appropriates, commits 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 earned in connection with the community redevelopment project area, and
agencies undertaking and carrying out of the ccmmunity redevelopment projects,
therein. Such tax increment shall be determined and appropriated annually, and shall
be an amount equal to ninety-five (95) percent of the difference between:
(a) The amount of ad valorem taxes levied each year by the City and 6etinty
on taxable real property contained within the geographic boundaries of thus
y redevelopment area as defined in the adopted Redevelopment Plan for Downtown
Clearwater (Ordinance No. 2576-81) and
t
4 (b) The amount of ad valorem taxes which would have been produced by the,
rate upon which the tax is levied each year by the Getta Y and City upon the total of
r the assessed value of the taxable property in the above-referenced redevelopment area
w.,
as shown upon the most recent assessment role used in connection with the taxation of
such property by the Gounty and the City prior to the effective date (December 17, ,
? Ls ??'FPe-,3.??
1981) of Ordnance Na. 2576-81 of the City of Clearwater enacting the downtown
redevelopment plan.
Ord. 4198-86 8/7/86
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`,,°..,?'?.fiF• ,.E lei^?? f,.t tt ?.- 3? . a" :??d},. ??"" ?•3-e`r?.
.a 'fi it .F, . y.i"t.y}' !•{[, .Y?%: @@ *•! r,.Lt•ei •;t+3i `r .:t' 'Y#i- 'F' ?
..S - 'a ? v. F A:`.,- ) 11 y7y3i -' ,'t.• aa++F3`C'eE'°' 's .?
?G.3ij1 ? .1.?-t-?`'.??'.; .S.ty'' •'13 ^,'• l.e', f.: M?l•e. S.'r'.? ri?ei ?' a}' } •?
[e~ : 7.,`S":i:'•.{!, ;it: •.?'` , Yi,.a'i:F?5r:z ??'?'.i , e.+e,•.?. L'?.. • 3. .4 yRS`Fi'«si. ,?i}, Tr. +,y ` s?, F)?
1. ,`si•",.' ? ::1. ';j< F" .+i..3r4 .y, ?°: 'Y •. r?3[a?..r.,'[r., n`.?? ?i?"?:' YY?'Y`.?a
:esfisiF193WR`tiA:]'!?, .-,f£Si. F,&???? .. ..,.«.....,..:.$.•:.',.-,... ,.?,.: ,i:-'?,.t.+.2ii ^:?d? ,
In addition, the Fund shall include the annual tax increment appropriations from
Pinellas County and other taxing authorities pursuant to Ordinance 82-34 of the Board { >Yt.
of Count Commissioners of Pinellas Count as the same may be amended from time.,' 3
"i'tfj? tr.,ty?, l
to time. In calculating the increment, the amount of ad valorem taxes levied based on
county-wide debt service on general obligation County bonds or city-wide debt service
l
on general obligation City bonds shall be excluded from the calculation. Alfa„
Increments in this amount shall continue to be used for its voter-approved purpose and
shall not be appropriated In any part to the Fund. In no year shall the County or City
x? s r.a? aiy,7.
obligation to the Fund exceed the amount of that yearts tax increment as defined by
'?}: fr'•:
this ordinance. Any adjustments made In the appropriation will be made based upon
the final extended tax rolls
Specifically excluded from the annual funding calculations are any increments In
ad valorem taxes received by the Pinellas County Planning Council, the Juvenile
Welfare Board the West Coast Regional Water Supply Authority, the South West
Florid Water Management District, the Pinellas Anclote River Basin Board, Emergency
Medical Board, Environmentally Endangered Lands, the Central Pinellas Transit 3
Authority, the Clearwater Downtown Development Board, and any other such boards,
councils or authorities as may be duly established during the duration of the trust fund.. ct s'
The Agency Is directed to establish and set up the Fund and to develop and
promulgate rules, regulations and criteria whereby the Fund may be promptly and s"?l
effectively administered, including the establishment and maintenance of books and
• rfa?t.?'?%?',a-tip,
records and adoption of procedures whereby the Agency may, expeditiously and
without undue delay, utilize such funds for their allocated statutory purpose..
The Agency is faced with full responsibility for the receipt, custody,
disbursement, accountability, management and proper application of all monies paid :`?triz r
into the Fund.
Section 3. Duration of the Fund
??'u (qy
The County and City shall annually appropriate to the Fund the tax increment
due the Fund at the beginning of the County and City fiscal year. However-, the Fend
aray:l: y„ t
shell reeeWe the tax lneremant only as; 4f and when sueh faxes are eelleeted. The
City shall pay the tax Increment due the Fund on or before January 1 of each taxable
year. The County and City's obligation to annually appropriate to the Fund shall y{?;
commence Immediately upon August 19, 1982, the effective date of Ordinance 2779-82 _€?
this erdinanee and continue until all loans advances indebtedness
M-t+,
e t -2- ?.
y
1.
i
t
and obligations Incurred as a result of the community redevelopment project have been
?
F1} paid or for five years from the effective date of Ordinance 2779-82 this erdinanee, If
there has not been at the and of that five year period a pledge of the tax Increment
u• funding granted by this ordinance through a formal commitment to expend funds or the
ri
issuance, sale or delivery of an instrument of Indebtedness such as bonds or tax
anticipation notes described In Section 163.385, Florida Statutes (1981). Beginning
- ivy with the twentieth year after the date of sale of the initial bonding or Indebtedness, no
'
'
new sale of bonds or indebtedness supported by the County
s or the City
s tax
9 increment may occur nor may existing indebtedness so supported be refunded without
approval by the respective governing bodies. The County's tax increment
sx approprlations shall be accounted for as separate revenue within the Fund but may be
" e
combined with other revenues for the purpose of paying debt service.
n,f Section 2. Section 8 of Ordinance 2779-82 Is renumbered as Section 9, and a new
Section 8 is added to read:
Sec. 8, Audit reports.
a A copy of the audit report required by Section 163.387(8), Florida Statutes, shall
1 be provided to the Board of County Commissioners of Pinellas County each fiscal year.
Section 3. This ordinance shall take effective immediately upon adoption.
PASSED ON FIRST READING July 17, 1986
PASSED ON SECOND AND FINAL
August 7, 1986
READING AND ADOPTED
.?'Attest:'
City lerk
Approved ds to force
and correctness-
City Attorn
Mayor-Commissioner
-3-
•
•