(A) The City Commission hereby creates the Pompano Beach Redevelopment Trust Fund. All tax increment revenues accruing to the Pompano Beach Community Redevelopment Agency, as defined in F.S. § 163.387, shall be deposited in the Pompano Beach Redevelopment Trust Fund. Funds allocated to and deposited in the Pompano Beach Redevelopment Trust Fund shall be used by the Pompano Beach Community Redevelopment Agency to finance or refinance any community redevelopment the Community Redevelopment Agency undertakes pursuant to the adopted Community Redevelopment Plan as said plan may be amended from time to time.
(B) The Pompano Beach Community Redevelopment Agency may expend funds from the Pompano Beach Redevelopment Trust Fund from time to time for any and all purposes provided in the Florida Community Redevelopment Act of 1969, F.S. Chapter 163, Part III.
(C) The Pompano Beach Community Redevelopment Agency shall include in its annual audit report all financial data relating to the Pompano Beach Redevelopment Trust Fund required by F.S. § 163.356(3)(c).
(Ord. 90-10, passed 10-31-89)