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HomeMy WebLinkAboutO-00-16ORDINANCE NO. O-00-16 AN ORDINANCE OF THE CITY OF SEBASTIAN, 13TDIAN RIVER COUNTY, FLORIDA, AMENDING SECTION 78-30 OF THE CODE OF ORDINANCES, COMMUNITY REDEVELOPMENT TRUST FUND; PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. WltEREAS, the City has a community redevelopment trust fund pursuant to ordinance, and the vernacular establishing the same is not consistent with the requirements of state law; and WHEREAS, state law allows for the exemption of certain taxing authorities from the provisions for tax increment financing for community redevelopment districts, and it is in the best interest of the citizens of Sebastian that certain exemptions be granted; NOW, THEREFORE, BE IT ORDAINED BY TIlE CITY COUNCIL OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, as follows: Section 1. That section 78-30 of the Code of Ordinances, City of Sebastian, hereby amended to read as follows: Sec. 78-30. Community redevelopment trust fund. Florida is (a) There is hereby established and created, in accordance with the provisions of F.S. §163.387, a community redevelopment trust fund, hereafter referred to as the "Fund". Co) The monies allocated to and deposited into the Fund are hereby appropriated to the City of Sebastian Community Redevelopment Agency, hereafter referred to as the "Agency", to finance projects within the community redevelopment district as established by Resolution No. R-95-12 pr~eet-arx~, hereafter referred to as the ~ ~stnct . The Agency shall utilize the monies and the revenue paid into and earned by the Fund for all and every community development purpose delegated to it by the established community redevelopment plan, ~' ....c~ .... c~ +~ as thc, "~"~" ................... v,,-,, and as further provided by law. The Fund is to exist for thirty (30~ years or until legally terminated by ordinance. Said monies shall be held by the city for and on behalf of the Agency and distributed to the Agency in accordance with a subsequent agreement to be established between the city and the Agency (c) There shall be paid into the Fund each year by all taxing authorities within the projr~, ~ excluding the sohooMtistt4~, following entities: Florida Inland Navigation District Indian River County_ Mosquito Control District Indian River County_ Hospital Maintenance District School District. and associated eeneral oblieation debt funded by ad valorem taxes Indi~r~ River County Land Acquisition Bond General Obligation Debt Emergency Services Dependent Taxing Distficl St, JQ]3ns River Water Manaeement District Sebastian Inlet Taxine District the incremental increase in ad valorem taxes levied each year by the rlon-exem_nt ab .............. taxing authorities over the amount of ad valorem taxes levied by the n~n-exempt rffereneeg-taxing authorities in the base year, as established in subsection (e) below. (d) The tax roll used in connection with the taxation of such property for the base year shall be the tax roll of 1994 in Indian River County. All deposits into the Fund shall begin with the incremental increases in ad valorem tax revenues received subsequent to November 1, 1995. '(e) The tax increment shall be determined and appropriated annually in an amount equal to the difference between: (1) That amount of ad valorem taxes levied each year by all gon- ~ taxing authorities ~xclu~Lng +~-~.~ ~..~u.~'^~ ,~.~..~,~:~*-:~' on taxable real property contained within the geographic boundaries of the Distr~ pmjeot; and (2) That amount of ad valorem taxes which would have been produced by the rate upon which the tax is levied each year by or for all r~on-exernpt taxing authorities~ ,,,~.,~...~,~"'~;~ *~'~,.,, ~..~.,,~'~ ~:.:,t~ct~ upon the total of the assessed value of the taxable property in the Distfi~ projee~, as shown upon the 1994 assessment roll used in connection with the taxation of such property by all ~ taxing authorities,,,~.~,~,.,~~-~"a;~- .,.~..~ ~.,~,,,,,.~r"~'~ district. If any conflict occurs between the provisions of this section and the provisions of F.S. Chapter 163, Part III, concerning tax increment financing, the statutory provisions shall control and apply to this section. (f) The tax increment shall be computed by using the assessed value of taxable property in the ~~ for the year 1994 as the base, and in subsequent years using the assessment value of property in the District project for that year as the second factor in determining the amount of tax increment in that year. (g) All ~ taxing authorities , ~..~1..~i:~ ~-~ ~1~1 ,~:~+,.;~+ will ~u~ly appropriate to the Fund the ~orestated sum at the be~ng of their fisc~ ye~. The Fund shall receive the t~ ~crement above described ~ .... :~ ~ ~ 1 of each year as prohded b~ Florida Statute. The t~ng authorities' ob~gation to a~u~y appropriate to the Fund shall co~ence mediately upon ~e effective date of Ordnance No.0-95-08 ~d continue for thnv (30~ years, or such~ time as e~ended or sho~ened bv law u~+:~ ~" ~ ..... ~ ......... ~ :_a~,~ .... w (h) The Agency with the approval of the city council 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 effectively administered, including the establishment and the maintenance of books and records and adoption of procedures whereby the Agency may, expeditiously and without undue delay, utilize said monies for their allocated statutory purpose. (i) The Agency accepts full responsibility for the receipt, custody, disbursement, accountability; management and proper application of all monies paid into the Fund subject to the provisions of subsection (b) of this section. Section 2. are hereby repealed. CONFLICT. All ordinances or parts of ordinances in conflict herewith Section 3. SEVERABILITY. In the event a court of competent jurisdiction shall hold or determine that any part of this Ordinance is invalid or unconstitutional, the remainder of the Ordinance shall not be affected and it shall be presumed that the City Council of the City of Sebastian did not intend to enact such invalid or unconstitutional provision. It shall further be assumed that the City Council would have enacted the remainder of this Ordinance without said invalid or unconstitutional provision, thereby causing said remainder to remain in full force and effect. Section 4. EFFECTIVE DATE. This Ordinance shall take effect upon its adoption by the City Council. tTheforegoing Ordinance was moved for adoption .by Councilmember ,4z~c](_~.. The motion was seconded by Councilmember ~;~gJ-OZP and, upon bemg"p~t to a vote, the vote was as follows Mayor Walter Barnes Vice-Mayor Ben A. Bishop Councilmember Joe Barczyk Councilmember James Hill Councilmember Edward J. Majcher, Jr. The Mayor thereupon declared this Ordinance duly passed and adopted this 28s'~ day of June, 2000. CITY OF SEBASTIAN, FLORIDA ATTEST: Kath n g. 6,mu'&ah, City Clerk Walter Barnes, Mayor Approved as to form and legality for reliance by the City of Sebastian only: Rich Stringer, C~ty Attorney