Ordinance 89-2668 ORDINANCE NO. 89-2668
AN ORDINANCE OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA AMENDING
SECTION 2-72. 3 OF THE CODE OF THE CITY OF
MIAMI BEACH, FLORIDA, AS AMENDED, SO THAT
SUCH PROVISIONS CONCERNING THE ANNUAL APPRO-
PRIATIONS BY THE CITY TO THE REDEVELOPMENT
TRUST FUND CONFORM TO THE PROVISIONS OF
FLORIDA STATUTES, SECTION 163. 330 , ET SEQ. ;
REPEALING ALL ORDINANCES AND RESOLUTIONS IN
CONFLICT HEREWITH; PROVIDING FOR SEVERABIL-
ITY; AND PROVIDING FOR AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH,
FLORIDA:
Section 1. That Section 2-72 . 3 of the Code of the City of
Miami Beach, Florida, be and the same is hereby amended to read
as follows :
"Sec . 2-72 . 3 . Annual appropriations by city .
The city will annually appropriate to the fund
the aforestated sum by January 1 . The fend she}}
reeeive the tax tnerement abeve deseribed eniy as; if
and when saeh taxes may be eeiieeted by the eity . The
city ' s obligation to annually appropriate to the fund
shall commence immediately upon the effective date of
this article and continue for the duration of the
project or until all loans , advances and indebtedness ,
if any , and interest thereon incurred by the agency as
of the projectLave been, aid wti"1i v} ever i c
later , and only to the extent that the tax increment
recited above accrues . "
Section 2 . All ordinances , resolutions or parts in conflict
herewith be and the same are hereby repealed.
Section 3. If any section, sentence , clause or phrase of
this ordinance is held to be invalid or unconstitutional by any
court of competent jurisdiction, then said holding shall in no
way affect the validity of the remaining portions of this ordi-
nance .
Section 4. This ordinance shall take effect ten days after
its adoption, on November 25 , 1989 .
PASSED and ADOPTED this 15th day of November , 1989
VICE-MAYOR
Attest:
FORM APPROVED
City Clerk LEGAL DEPT.
1st reading 10/31/89
2nd reading 11/15/89
Date °12 Y/.J)/9
eat/ 06 7/4am ' 'eae%
MI Be-, FLORIDA\) 3 3 1 3 9
*iINCORP1;ORATED)*'
"VA CA TIONL,4ND II. S. A. "
‘A.9
OFFICE OF THE CITY MANAGER CITY HALL
ROB W.PARKINS 1700 CONVENTION CENTER DRIVE
CITY MANAGER TELEPHONE: 673-7010
COMMISSION MEMORANDUM NO. ) /C • I
October 31, 1989
DATE:
TO: Mayor Alex Daoud and
Members of the City Commission
FROM: Rob W. Parkips /. 1 ;..
City Manager\—l
SUBJECT: ORDINANCE—WHICH AMENDS THE CODE OF THE CITY OF MIAMI
BEACH RELATING TO ANNUAL APPROPRIATIONS TO THE
REDEVELOPMENT TRUST FUND
The Miami Beach Redevelopment Agency is in the process of issuing
Tax Increment Revenue Bonds. To facilitate the issuance of these
Bonds, it is necessary to amend Section 2-72 . 3 of the Code of the
City of Miami Beach so that provisions related to the City' s annual
appropriation of the tax increment to the Redevelopment Trust Fund
(the "Fund") conforms with Chapter 163 of the Florida Statutes.
This modification will obligate the City to make its annual
appropriation to the fund by January 1st of each year. In previous
years, it has been the practice of the City to make the annual
appropriation by January 1st.
ADMINISTRATION RECOMMENDATION:
The City Administration recommends that the City Commission adopt
the Ordinance authorizing the above-stated actions.
RWP:KH: jh
Attachment
34
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