§ 35-72. Purpose of trust fund; use of revenues deposited in trust fund.

The monies to be allocated to and deposited into the fund shall be used to finance "community redevelopment" within the community redevelopment area using tax increment revenues attributed to the community redevelopment area, which shall be appropriated by the agency. The agency shall utilize the funds and revenues paid into and earned by the fund for community redevelopment purposes as provided in the plan and for any purpose specified in F.S. § 163.387(6). The fund shall exist for the duration of 30 years from the effective date of the community redevelopment plan and used for the "community redevelopment" undertaken by the agency pursuant to the plan to the extent permitted by the act. Monies shall be held in the fund by the city, for and on behalf of the agency, and disbursed from the fund as provided by the agency.

(Ord. No. 2013-26, § 2, 7-23-13)