98-918 CRA Trust Fund - Laserfiche WebLink

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derived by Seminole County for those properties located within the Casselberry Community Redevelopment Agency's redevelopment area shall be appropriated by Seminole County and deposited in the Casselberry Community Redevelopment Agency Trust Fund in accordance with Section 163.387, Florida Statutes (1997). Such increment revenues, when deposited into the Trust Fund, may be used by the Casselberry Community Redevelopment Agency in a manner consistent with its redevelopment plan and with general law. Any such funds may be pledged as collateral for the repayment of bond revenues, consistent with Part III, Chapter 163, Florida Statutes (1997) and general law. This funding shall continue through the existing term of the Casselberry Redevelopment Plan. SECTION U. That Section 9 of Ordinance No. 95-852 shall be amended to read as follows: SECTION 9. The potential consolidation of the Casselberry Community Redevelopment Agency with other community redevelopment areas in a multi - jurisdictional Community Redevelopment Agency shall be optional with regard to the City of Casselberry. All documents of creation and implementation of the Community Redevelopment Agency shall provide for the contingent future transfer of any and all projects, programs, assets, property, funds, obligations and liabilities to Seminole County and/or a multi jurisdictional or countywide Community Redevelopment Agency established by Seminole County; provided, however, that any funds on account at the time of termination, expiration or dissolution of the City of Casselberry Community Redevelopment Agency that are not encumbered or pledged as security for any indebtedness shall be transferred to the City of Casselberry for use, as the City of Casselberry deems fit, within the proposed City of Casselberry Central City District; provided, further, however, that any real or personal property that has been purchased with Community Redevelopment Agency funds shall become the property of the City of Casselberry unless pledged or encumbered. SECTION M. Other than as stated in Section I and II above, Ordinance No. 95-852 shall remain in full force and effect as originally adopted. SECTION IV. CONFLICTS All Ordinances or parts of Ordinances in conflict with any of the provisions of this Ordinance are hereby repealed. SECTION V. SEVERABILITY If any Section or portion of a Section of this Ordinance proves to be invalid, unlawful, or unconstitutional, it shall not be held to invalidate or impair the validity, force or effect of any other Section or part of this Ordinance. Ordinance No. 98-918 Page 3 of 4