§ 30-335. Funding of trust fund.

Latest version.

There shall be paid into the International Drive Community Redevelopment Trust Fund each year by each of the "taxing authorities," as that term is defined in F.S. § 163.340(2), levying ad valorem taxes within the International Drive Community Redevelopment Area, a sum equal to ninety-five (95) percent of the incremental increase in ad valorem taxes levied each year by that taxing authority, as calculated in accordance with the redevelopment act and section 30-337 of this article, based on the base year established in section 30-336 of this article (such annual sum being hereinafter referred to as the "tax increment").

(Ord. No. 98-22, § 3, 9-29-98)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');