§ 25-136.1. Additional rate of tax; collection and use of additional revenue, etc.  


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  • (a)

    Pursuant to F.S. § 125.0104(3)(l), there is hereby levied, imposed and set an additional one (1) percent of each dollar above the tax rate set under subsections 25-136(a), (b), (c), and (d) of this article.

    (b)

    All revenues attributable to the increase in the tax rate under subsection (a) shall be collected and accounted for in accordance with sections 25-137 and 25-138, except that upon receipt the Orange County Comptroller shall deposit such revenues in an account within the tourist development trust fund that is separate and apart from all other accounts within the trust fund and shall take such actions as are necessary or desirable from time to time to ensure, for accounting purposes, that such revenues are not commingled with the revenues attributable to the tax rates imposed under section 25-136 of this article.

    (c)

    The tax revenues attributable to the increase in the tax rate under subsection (a) shall be expended only for the purposes allowed by law, including but not limited to the payment of debt service on bonds issued to finance the construction, reconstruction, or renovation of a major league baseball stadium. Furthermore, the provisions of sections 25-139, 25-140, and 25-141 of this article do not apply to the tax revenues attributable to the increase in the tax rate under subsection (a).

    (d)

    This section shall automatically expire and be of no further force and effect (i) upon payment of all debt service on all bonds heretofore and hereafter issued to finance the construction, reconstruction, or renovation of any professional sports franchise facilities and (ii) at such time as there otherwise remains in the county no lawful purpose for the expenditure of the tax revenues attributable to the increase in the tax rate under subsection (a). Provided, however, it is the intention of the board of county commissioners that, after the defeasance of all bonds issued to finance sport facilities to which the tax revenues attributable to the tax rate set under subsections 25-136(a)—(d) of this article have been pledged, then, subject to the rights of the owners of any tourist development tax revenue bonds issued or to be issued by the county:

    (1)

    In the event the tax revenues attributable to the tax rate set under subsections 25-136(a)—(d) of this article are sufficient to pay the costs of all expenses authorized in section 25-140 of this article with only the portion of the proceeds attributable to the additional tax rate set under subsection (a) that would have been received at an additional tax rate of only one-half of one (½) percent, then subsection (a) should be amended, to the extent permitted by law, to reduce the additional tax rate set thereunder to a rate of one-half of one percent; and

    (2)

    In the event the tax revenues attributable to the tax rate set under subsections 25-136(a)—(d) of this article are sufficient to pay the costs of all expenses authorized in section 25-140 of this article without the use of any of the proceeds attributable to the additional tax rate set under subsection (a), as amended, then this section should be repealed.

(Ord. No. 94-25, § 1, 12-13-94; Ord. No. 98-24, § 4, 10-6-98)