125.04 URBAN REDEVELOPMENT TAX INCREMENT EQUIVALENT FUND.

(a) An Urban Redevelopment Tax Increment Equivalent Fund is hereby established into which shall be deposited service payments in lieu of taxes distributed to the City by the County Treasurer as provided in Ohio R.C. 5709.42.

(b) The moneys deposited in such Fund shall be used for community development purposes.
(Ord. 71-78. Passed 12-4-78.)

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