§ 35-71. Creation of community redevelopment trust fund/compliance with state law.

(a)

There is hereby established and created, in accordance with the provisions of the act, a community redevelopment trust fund (the "fund") for the community redevelopment area and the ad valorem revenues deposited in that fund shall be utilized and expended for the purposes of and in accordance with the plan, including any amendments or modifications thereto, and the controlling provisions of state law including, but not limited to, the requirement to expend funds from the trust fund only for the purposes of "community development", as that term is defined in F.S. § 163.340(9), and under the plan.

(b)

The use of the phrase "controlling state law" shall include, but not be limited to, the provisions of the "Community Redevelopment Act of 1969" as codified in F.S. ch. 163, pt. III.

(Ord. No. 2013-26, § 1, 7-23-13)