3-8-4: OPERATION FUND:
Pursuant to the provisions of the Act, there is hereby established and created a self-supported municipal improvement district operation fund with respect to the South District SSMID to be known as the "South District Self-Supported Municipal Improvement District Operation Fund" (herein the "Operation Fund"), for which the City may certify taxes, against the property within the South District SSMID, to the extent allowed by the Act, each year (the "Operation Tax"), in addition to all other taxes, commencing with the levy of taxes for collection in the fiscal year beginning July 1, 2022 for the purposes of paying the administrative and operational expenses of the district, as defined and authorized in the Act and this chapter, or paying part or all of the maintenance expenses of "improvements" or "self-liquidating improvements", as defined in the Act, for a period of five (5) years. (Ord. 22-4872, 1-18-2022)