(A) Allocation of Dorothy Drive Business District taxes. From and after the effective date of the imposition in the Dorothy Drive Business District of (1) any taxes by the city pursuant to § 11-74.3-3(12) of the Business District Act, and (2) any taxes by the city pursuant to § 11-74.3-3(13) of the Business District Act (such taxes being, collectively, the “Dorothy Drive Business District taxes”) until the Business District development and redevelopment costs and obligations issued in respect thereto have been paid in full, all Dorothy Drive Business District taxes shall be allocated to and when collected shall be paid to the City Treasurer, who shall deposit the taxes into a special fund of the city, hereby created and designated the “Dorothy Drive Business District Tax Allocation Fund,” and all such Dorothy Drive Business District taxes shall be used solely for the purpose of paying business district development and redevelopment costs and obligations incurred in the payment thereof.
(B) Other actions. The Mayor, the City Clerk and the proper officers, officials, agents and employees of the city are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents and certificates as may be necessary to carry out and comply with the provisions of and to further the purposes and intent of this section, including the preamble to Ordinance 2005-25.
(Ord. 2005-25, passed 9-19-2005)