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Ordinance 1892ORDINANCE NO. 1892 AN ORDINANCE AMENDING CHAPTER 41 OF "THE CODE OF THE CITY OF MIAMI BEACH, FLORIDA," RELATING TO THE TOURIST DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI BEACH, FLORIDA. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA: SECTION 1. That Section 41.68 of "The Code of the City of Miami Beach, Florida," be and the same is hereby amended to read as follows: "The Authority shall have the following powers and duties: (b) To take all necessary and proper action to promote the Tourist Industry for the City of Miami Beach, including but not restricted to causing expert studies to be made, promotional programs, the recom- mendations and development of tourist attractions and facilities within the City of Miami Beach; and to carry out programs of information, special events, Convention Sales and marketing, and advertising designed to attract tourists, visitors, and other interested persons. Pro- vided, however, that no contract or agreement for adver- tising services awarded by the Authority shall be valid or effective, unless the same shall have been made pur- suant to competitive presentation, in conjunction with visual presentation of proposed advertising programs." SECTION 2. That Section 41.68 of "The Code of the City of Miami Beach, Florida," be and the same is hereby amended to read as follows: "(e) To annually prepare and submit a budget for the expenditures of that portion of the Resort Tax provided for in Article V, Section 41.46, or any future amend- ment thereof, of The Code of the City of Miami Beach, Florida, 1964, allocated to the Authority, as hereinafter provided. The budget prepared and submitted by the Authori- ty to the City Council shall specify, with particularity, the expenditures anticipated and proposed to be made by the Authority, and no budgetary provisions shall be made in broad or all-inclusive terms, and said proposed budget shall be in conformity with the requirements for a 'line - by -line' budget. A sum not to exceed 20% of the total annual budget may be placed in an "Event Contingency Fund", to be expended by the Authority during the budget period for events and projects authorized subsequent to passage and approval of the budget, and which will occur within one year from date of authorization thereof. Commencing October 1, 1970, Resort Tax monies collected after October 1, 1970, shall be prorated, allocated, and appropriated for the Authority as follows: "(1) If the annual fund collected does not exceed $2,500,000.00, then not less than 25% of such fund is hereby allocated to the Authority. (2) If the annual fund collected exceeds $2,500,000.00, but does not exceed $3,000,000.00, then not less than 40% of the total sum collected is hereby allocated to the Authority. -1- OFFICE OF CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 (3) If the annual fund collected exceeds $3,000,000.00, and amounts to $3,000,001.00, but does not exceed $3,050,000.00, then not less than 45% of the total sum collected is hereby allocated to the Authority. (4) If the annual fund collected exceeds $3,050,000.00, then not less than 50% of the total sum collected is hereby allocated to the Authority. (5) The monthly allocations of Resort Tax receipts to the Authority herein provided shall be distributed and paid to the Authority on or before the 10th day of the month immediately following the month of collection thereof in proportion to its approved budget, provided, however, such payments shall be subordinate to the City's covenants with its bondholders under its Resort Tax Bond indenture. (6) The Authority's percent of past due taxes shall be paid to the Authority within thirty days after collected." SECTION 3. That Section 41.69 of "The Code of the City of Miami Beach, Florida," be and the same is hereby amended to read as follows: "SECTION 41.69 Budget; Expenditure of Funds. The Authority shall not have the power to expend funds, or obligate the City for any amount in excess of that provided for in the current budget of the Authority, except that the Authority may enter into contractual commitments for two additional consecutive years for Conventions and Events scheduled in years following the current fiscal year, and any contractual commitment beyond such period may be entered into only upon the concurrence and consent of the City Council. Nothing herein contained shall be deemed or construed to affect, in any way, any commitment made by the Authority to the Democratic and Republican Nat;onal Conventions, or any other commitment made by it and now existing, and the Authority shall abide by, and perform the same. Such commitments shall be bind- ing upon the Authority, and the City Council, and shall be included in the budget of the Authority in the fiscal year or years in which any payments required to be made thereunder shall become due and payable. The Authority may enter into commitments to the City for sums to be in- cluded in future budgets for Capital improvements authorized by the City Council, in accordance with Chapter 67-930, Laws of Florida. Annually, on or before August 1, the Authority shall prepare and submit to the City Council a budget accurately itemizing all estimated revenue and ex- penses for the succeeding fiscal year beginning October 1st. The Authority shall not expend funds, or incur any lia- bility which is not authorized or provided for in its cur- rent budget, or in any amendment thereto, except as here- in provided. All expenditures made by the Authority within its current budget shall be paid out by voucher and warrant, as in the case of other municipal expenses. The Authority shall operate within, and be bound by, the budget as approved by the City Council. -2 - OFFICE OF CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 SECTION 4. The provisions of this Ordinance shall become operative and effective when this Ordinance shall be ratified and approved by a majority of the Tourist Development Authority. PASSED and ADOPTED this 1st Attest: /16?"" City C erk - Finance Director 1st reading - 2nd reading - 3rd reading - POSTED - July 21, 1971 September 1, 1971 September 1, 1971 September 2, 1971 day of September , 1971. —3— OFFICE OF CITY ATTORNEY -1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 STATE OF FLORIDA COUNTY OF DADE: I, RUTH B. ROULEAU, City Clerk and Finance Director in and for the City of Miami Beach, Florida, do hereby certify that Ordinance No. 1892 entitled: AN ORDINANCE AMENDING CHAPTER 41 OF "THE CODE OF THE CITY OF MIAMI BEACH, FLORIDA", RELATING TO THE TOURIST DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI BEACH, FLORIDA, having been passed and adopted by the City Council of the City of Miami Beach, Florida, has been posted by me in three conspicuous places in the City of Miami Beach, one of which was at the door of the City Hall in said City on the 2nd day of September, 1971, and that said Ordinance remained posted for a period of at least thirty days in accordance with the requirements of the City Charter of the said City of Miami Beach. IN WITNESS WHEREOF I have hereunto set my hand and affixed the official seal of the City of Miami Beach, Florida, on this the 20th day of October, 1971. City Clerk and Finance Director • a) -v O C +� O NOT APPROVED BY TDA.