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HomeMy WebLinkAboutItem #14 Amend. #2 Onyx Waste Service Agreement Sil AGENDA ITEM COVER SHEET Contact Name: Contact Number: Bob Zaitooni 6003 Meeting ?:::# Mal q, 2006 Reviewed By: Department Director: City Manager: ~ Subject: Amendment #2 to the Agreement with Onyx Waste Service Background Summary: On~x Waste Services. Inc. had made a request for an early termination of their residential yard waste & bulky waste Agreement with the City. On March 21. 2006. City Commission directed staff to pursue an amendment to the residential yard waste & bulky waste with On~ x Waste Services. Inc. Therefore. pursuant to the City Commission' s approval of the in-house residential curbside. staffhas prepared amendment #2 to the residential yard waste & bulky waste Agreement with On~x Waste Services. Inc. The Amendment will provide for the early termination of the contract and transition to an in-house service. address contractor default. and provide for mutual releases and cooperation between the parties. Issue: Approve Amendment #2 to Agreement with On~x waste Services. Inc. for residential yard waste & bulky waste. Recommendations Staff recommends approving amendment #2 to the Agreement with Onyx Waste Services for the early termination and the transition to an in-house operation for residential yard waste & bulky waste services. Attachments: Amendment #2 to the original agreement with Onyx Waste Services, Inc. and March 21,2006 Staff Report Financial Impact: City Commission has approved an increase in monthly customer rates from $16 to $19. As the routes are transitioned to the City operation, the payments to the hauler are decreased accordingly. Type of Item: o o o o o o Public Hearing Ordinance First Reading Ordinance First Reading Resolution Commission Approval Discussion & Direction For Clerk's DeDt Use: 181 Consent Agenda o Public Hearing o Regular Agenda ~ Original Document/Contract Attached for Execution by City Clerk o Original Document/Contract Held by Department for Execution Reviewed by City Attorney Reviewed by Finance Dept Reviewed by ( ) o N/A o N/A o N/A City Manager Robert Frank Commissioners Garv Hood. District 1 Scott Anderson, District 2 Rusty Johnson, District :3 ,Joel F. Keller, District 4 l\Iavor S. Scott Vandergrift STAFF REPORT TO: The Honorable Mayor and City Commissioners FROM: Bob Zaitooni, Director of Public Works DATE: May 8, 2006 RE: Amendment #2 to the Agreement with Onyx Waste Services, Inc. ISSUE Should the Honorable Mayor and City Commission approve amendment #2 to Agreement with Onyx Waste Services, Inc. for residential yard waste & bulky waste? BACKGROUNDIDISCUSSION Onyx Waste Services, Inc. had made a request for an early termination of their residential yard waste & bulky waste Agreement with the City. On March 21, 2006, City Commission directed staff to pursue an amendment to the residential yard waste & bulky waste with Onyx Waste Services, Inc. Therefore, pursuant to the City Commission's approval of the in-house residential curbside, staff has prepared amendment #2 to the residential yard waste & bulky waste Agreement with Onyx Waste Services, Inc. The Amendment will provide for the early termination of the contract and transition to an in-house service, address contractor default, and provide for mutual releases and cooperation between the parties. City Commission has approved an increase in monthly customer rates from $16 to $19. As the routes are transitioned to the City operation, the payments to the hauler are decreased accordingly. RECOMMENDATION Staff respectfully recommends the honorable Mayor and City Commission to approve amendment #2 to the Agreement with Onyx Waste Services for residential yard waste & bulky waste; and authorize the Mayor and City Clerk to execute amendment #2 to the Agreement. AMENDMENT NO.2 TO RESIDENTIAL YARD AND BULKY WASTE COLLECTION AND DISPOSAL AGREEMENT TillS AMENDMENT NO.2 TO RESIDENTIAL YARD AND BULKY WASTE COLLECTION AND DISPOSAL AGREEMENT (this "Amendment") is made and entered this day of , 2006 by and between the CITY OF OCOEE, a Florida municipal corporation, (the "City") and ONYX WASTE SERVICES SOUTHEAST, INC., (F/K/A ONYX WASTE SERVICES OF FLORIDA, INC.), a Florida ~()rn()r::lti()n (thp. "rontrllctor"t ---r~------:;J ,-~-- - ------~-'_._- /- RECITALS WHEREAS, City and Contractor entered into that certain Residential Yard and Bulky Waste Collection and Disposal Agreement on August 30,2001 for the collection and disposal of residential yard and bulky waste within the corporate limits of the City (the "Agreement"); and WHEREAS, the Contractor has requested that the City agree to an early termination of the Agreement; and WHEREAS, the City has agreed to the request of the Contractor, subject to the terms, conditions and limitations set forth herein; and WHEREAS, City and Contractor desire to make other necessary amendments in connection with the early termination of the Agreement. NOW THEREFORE, in consideration of the mutual promises herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: Section 1. by this reference. Recitals. The above recitals are true and correct and are made a part hereof Section 2. CaDitaUzed Terms. All capitalized terms used herein shall be as defmed in the Agreement unless otherwise indicated or defined in this Amendment. Section 3. Term. Section 2 of the Agreement deleted in its entirety and replaced with the following: Section 2. TERM The term of this Agreement shall be for the period beginning September 4, 2001, and ending June 30" 2006. 11/l7 /05 ORLA_ 407934.1 ~ .~6LOv -VlHO Section 4. Default bv Contractor. Nothing contained herein shall be construed to relieve the Contractor from the performance of its obligations under the Agreement prior to the expiration of the term thereof. The City expressly reserves its rights to pursue all remedies available under the terms of the Agreement in the event of a default by the Contractor. Section 5. Cooperation. During the remaining term of this Agreement the Contractor agrees to: (i) perform all of its obligations under the Agreement in accordance with the terms thereof, and (ii) undertake all reasonable efforts to cooperate with the City in the transition to the City of the services currently provided by the Contractor under the Agreement. Section 6. Amendment. Except as amended hereby, the Agreement remains unchanged and in full force and effect, and each of the parties hereto hereby ratifies and confIrmS the terms and conditions of the Agreement. All references herein to the Agreement shall refer to the Agreement as amended by this Amendment unless the text or context indicates otherwise. In the event of any conflict between the Agreement and this Amendment it is agreed that this Amendment shall control. Section 7. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original instrument, but all such counterparts shall constitute one and the same instrument. Facsimile copies of this Amendment and any signatures thereon shall for all purposes be considered as originals, provided that each of the parties hereto delivers an executed counterpart original of this Amendment to the other party by overnight courier within three (3) business days after the date of execution of the facsimile copy of this Amendment. [Signature Page Follows 1 ORLA_ 407934.1 IN WITNESS WHEREOF, the City and Contractor have caused this Amendment to be duly executed as ofthe date and year first written above. Signed, sealed and delivered in the presence of: MAl. ___..-..II...... .1_____1 "1__. ____ J '-' -1IlIJ---,-" , ..............-......---_.......~---....... ~J(JL) !-I()uJ} Hrr0 PrintName:&e:La Housfon Signed, sealed and delivered in the presence of: Print Name: Print Name: FOR USE AND RELIANCE ONLY BY THE CITY OF OCOEE, FLORIDA; APPROVED AS TO FORM AND LEGALITY this day of ,2006. FOLEY & LARDNER LLP By: City Attorney ORLA_ 407934.1 CONTRACTOR: ONYX WASTE SERVICES SOUTHEAST, INC. (F/K/A ONYX WASTE SERVICES OF FLORIDA, INC.), a Florida corporation //I ~ / /I"J /J By: /C/"7UU ~ ' /.,(/~ PrintName:leLJ.<1tP f.. TObe./fJ Title:AA4'4V /)P17: Executed on: .t' h% t' I / (NO CORPORATE SEAL) CITY: CITY OF OCOEE, FLORIDA, a Florida municipal corporation By: S. Scott Vandergrift, Mayor ATTEST: Beth Eikenberry, City Clerk Executed on: (SEAL) APPROVED BY THE OCOEE CITY COMMISSION AT A MEETING HELD ON ,2006 UNDER AGENDA ITEM NO. Mayor S. Scott Vandergrift center of Good L . ~'o-e l~il] . \. . (? Commissioners Gary Hood, District 1 Scott Anderson, District 2 Rusty Johnson, District 3 Joel F. Keller, District 4 City Manager Robert Frank STAFF REPORT DATE: TO: FROM: THROUGH: SUBJECT: May 10, 2006 The City of Ocoee CRA Board J. Antonio Fabre, AICP, Senior Planner Russ Wagner, AICP, Community Development Director Ocoee CRA Community Redevelopment Plan Comprehensive Plan Consistency Determination ISSUE: Should the CRA Board accept the Finding from the Planning and Zoning Commission that the CRA Community Redevelopment Plan is consistent with the Ocoee Comprehensive Plan? BACKGROUND: The approval of "City of Ocoee Community Redevelopment Plan" follows the adoption of the City of Ocoee Finding of Necessity Report for a Redevelopment Area, which describes a certain area of the City as meeting the "blight" definition prescribed in the Community Redevelopment Act. On September 21, 2004 the City Commission adopted a resolution finding a certain defined area of the City of Ocoee as having conditions of blight. This was the first key step to identify the redevelopment needs of a specific area within the community. The Community Redevelopment Plan addresses these identified needs by providing coordinated financing (via tax increments) and implementation strategies as well as management and administration opportunities. On March 21, 2006, the Orange County Board of County Commissioners unanimously approved the CRA Resolution, and an Interlocal Agreement with the City of Ocoee delegating authority to the City to create and manage a Community Redevelopment Agency (CRA). On April 25, 2006, the CRA board received and reviewed the proposed Community Redevelopment Plan and collectively agreed to forward the plan to the Planning and Zoning Commission (Local Planning Agency) for review and a formal determination that it is consistent with the City's Comprehensive Plan. DISCUSSION: The Ocoee Community Redevelopment Plan is intended to serve as a framework for guiding development and redevelopment within the Community Redevelopment Area over the next 40 years. The purpose of the Redevelopment Plan is to document a strategy for the Community Redevelopment Agency (CRA) to facilitate a comprehensive revitalization of the designated redevelopment area. May 16, 2006 City of Ocoee CRA Board Page 2 The Community Redevelopment Plan provides a legal description and physical information on the redevelopment area, identifies potential projects that can diminish or eradicate blighted conditions, and establishes a legal framework for a series of specific programmatic policy actions that advance these projects. Furthermore, the Plan provides for an economically sustainable, accessible, and attractive mixed-use area that offers visitors and residents a high quality local destination with a safe transportation network, pedestrian connections and public space/recreation facilities in a manner that promotes a positive image for the City of Ocoee. The CRA boundary, as described in the redevelopment plan, covers approximately 1,070 acres located north and south of the State Road 50 commercial corridor. More specifically, the CRA largely covers the same area as the previously approved State Road 50 Activity Center Special Development Plan referenced in the City of Ocoee Comprehensive Plan and Land Development Code. More specifically, the redevelopment plan establishes objectives and initiatives for the Community Redevelopment Plan. In general, the urban design initiatives presented in the Plan abide by the overall goals, objectives and policies, including type, size, density, massing and building height, as outlined in the City of Ocoee Comprehensive Plan and Land Development Code. As redevelopment initiatives are implemented, the CRA will evaluate the impact of such initiatives on the City's Comprehensive plan, existing/future land use and zoning. The CRA shall initiate changes to the zoning code and future land use map amendments to address mixed and multi-uses. A financing analysis of the tax increment funding, capital improvements, operating budgets and other funding sources are mentioned in the plan (pages 27-33). A detailed neighborhood impact assessment is also provided in the Plan (page 34) as well as a substantial implementation plan (pages 36-42). In many ways it is a comprehensive vision for what the CRA district can become. These strategies will continue to be refined as they are implemented. Accordingly, the Ocoee Community Redevelopment Plan may be modified in a manner consistent with Florida Statutes 163.361. Staff has found that the Community Redevelopment Plan was specifically prepared to be consistent with the adopted City of Ocoee Comprehensive Plan (please refer to pages 39-42 for a corresponding list of City of Ocoee's Goals and Objectives). As a result, staff determined that the proposed City of Ocoee Community Redevelopment Plan can, with certainty, be determined to be consistent and complementary with the Comprehensive Plan. PLANNING & ZONING COMMISSION (LPA): On May 9, 2006, the Planning and Zoning Commission, acting as the Local Planning Agency, was given the task to review the proposed Redevelopment Plan for consistency with the comprehensive plan. Staff presented the Community Redevelopment Plan and reiterated that the Plan was specifically prepared to be consistent with the adopted City of Ocoee Comprehensive Plan. City Staff and the City Attorney answered numerous questions regarding impacts to the surrounding areas, annexation of enclaves, the 40 year duration of the plan, public improvements, economic development issues, public parking structures and tax increments. The P&Z Commission also asked whether the plan took the FDOT widening of SR 50 into consideration. The Community Director answered that the plan was not in conflict with the widening but that a future overlay amendment would be needed to address the new impacts of the SR 50 widening. May 16, 2006 City of Ocoee CRA Board Page 3 Discussion also ensued about how the actual mechanics of the CRA district work. The Community Development Director stated that the ultimate goal was to encourage a more urbanized streetscape. In addition, he described that if the CRA founds are utilized for public infrastructure (water, sewer, etc.) that this,in turn, will encourage more private redevelopment. After finishing its deliberations, the Planning & Zoning Commission voted unanimously to accept staff recommendation and find the CRA Redevelopment Plan to be consistent with the City of Ocoee Comprehensive Plan. PLANNING & ZONING COMMISSION (LPA) FINDING: The Planning and Zoning Commission (LPA) unanimously determined that the City of Ocoee Community Redevelopment Plan is consistent with the Ocoee Comprehensive Plan and forwards the Redevelopment Plan to the CRA Board for their further action. Attachments: City of Ocoee Community Redevelopment Plan, Prepared by Herbert Halback, Inc. and Real Estate Research Consultants, marked Draft and dated April, 2006. O:\StaffReports\2006\SR06030 _ AF _ CRA _ RedevelopmentPlan _ CRA Board.doc RESOLUTION NO. A RESOLUTION OF THE CITY OF OCOEE, FLORIDA, RELATING TO COMMUNITY REDEVELOPMENT; MAKING FINDINGS; APPROVING A COMMUNITY REDEVELOPMENT PLAN; AUTHORIZING AND DIRECTING THE AGENCY TO IMPLEMENT THE PLAN; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE. WHEREAS, on September 21, 2004, the City Commission of the City of Ocoee, Florida (the "City Commission") adopted a Resolution which found the existence of one or more blighted areas in the corporate limits of the City ofOcoee (such area(s) referred to hereinafter as the "Area"); and WHEREAS, the City Commission enacted an ordinance, which created the Ocoee Community Redevelopment Agency (the "Agency") and authorized and directed the Agency to undertake community redevelopment pursuant to Part III, Chapter 163, Florida Statutes (2005) (the "Redevelopment Act"); and WHEREAS, in accordance with the Redevelopment Act, a plan for the redevelopment of the Area has been prepared and reviewed in accordance with Redevelopment Act; and WHEREAS, the Agency has considered the proposed redevelopment plan and has recommended to the City Commission that the proposed plan be approved; and WHEREAS, the City Commission has held a public hearing after notice to the public and to each taxing authority as provided in the Redevelopment Act concerning the proposed redevelopment plan; NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISION OF THE CITY OF OCOEE, FLORIDA: SECTION 1. Authority. The City Commission of the City of Ocoee has the authority to adopt this Resolution pursuant to Article VIII of the Constitution of the State of Florida, and Chapter 163, Florida Statutes (2005) and Part III, Chapter 163, Florida Statutes (2005). SECTION 2. Findin2;s. The City Commission does hereby find, after the public hearing concerning the proposed redevelopment plan (the "Plan") a copy of which is attached hereto as Exhibit "B", that the Plan: (a) Conforms to the comprehensiye plan for the municipality under the Local Government Comprehensive Planning and Land Development Regulation Act. (b) Is sufficiently complete to indicate such land acquisition, demolition and removal of structures, redevelopment, improvements, and rehabilitation as may be proposed to be carried out in the Area; zoning and planning changes, if any; land uses; maximum densities; and building requirements. (c) Provides for the development of affordable housing in the Area, or states the reasons for not addressing the development of affordable housing in the Area. SECTION 3. Additional Findin!!s. The City Commission does hereby find that with respect to the Plan: ( a) A feasible method exists in the Plan for the location of families who will be displaced from the community redevelopment area in decent, safe, and sanitary dwelling accommodations within their means and without undue hardship to such families; (b) The Plan conforms to the general plan of the municipality as a whole; (c) The Plan giyes due consideration to the utilization of community policing innovations, and to the proyision of adequate park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety, and welfare of children residing in the general vicinity of the Area; (d) The Plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the Area by private enterprise. SECTION 4. Plan Implementation. The Agency is hereby authorized and directed to proceed with the implementation of the Plan. SECTION 5. Severability. If any section, subsection, sentence, clause, phrase or portion of this Resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto SECTION 6. Effective Date. This resolution shall become effectiye immediately upon passage and adoption, provided, however, that the community redevelopment plan shall not take effect until approved by the Orange County Board of County Commissioners as provided in that certain Interlocal Agreement between the City of Ocoee and Orange County, Florida, pertaining to community redevelopment in the City. PASSED AND ADOPTED THIS DAY OF _,2006. APPROVED: 2 ATTEST: Beth Eikenberry, City Clerk (SEAL) FOR USE AND RELIANCE ONLY BY THE CITY OF OCOEE, FLORIDA: APPROVED AS FOR FORM AND LEGALITY This _ day of , 2006. FOLEY & LARDNER LLP By: City Attorney CITY OF OCOEE, FLORIDA s. Scott Vandergrift, Mayor APPROVED BY THE OCOEE CITY COMMISSION ON THE ABOVE DATE UNDER AGENDA ITEM NO. 3 ORDINANCE NO. AN ORDINANCE OF THE CITY OF OCOEE, FLORIDA, ESTABLISHING A REDEVELOPMENT TRUST FUND; PROVIDING FOR THE FUNDING OF A REDEVELOPMENT TRUST FUND FOR COMMUNITY REDEVELOPMENT WITHIN THE COMMUNITY REDEVELOPMENT AREA; PROVIDING FOR ADMINISTRATION OF THE REDEVELOPMENT TRUST FUND; DETERMINING THE TAX INCREMENT TO BE DEPOSITED IN THE REDEVELOPMENT TRUST FUND; EST ABLISHING THE BASE YEAR FOR DETERMINING ASSESSED VALUES OF PROPERTY IN THE COMMUNITY REDEVELOPMENT AREA FOR TAX INCREMENT PURPOSES; PROVIDING FOR THE ANNUAL APPROPRIATION OF THE TAX INCREMENT BY TAXING AUTHORITIES IN THE COMMUNITY REDEVELOPMENT AREA; APPOINTING THE GOVERNING BODY OF THE COMMUNITY REDEVELOPMENT AGENCY AS THE TRUSTEES OF THE REDEVELOPMENT TRUST FUND; EXEMPTING CERTAIN SPECIAL DISTRICTS FROM THE ANNUAL REQUIREMENT TO APPROPRIATE INCREMENT REVENUES TO THE REDEVELOPMENT TRUST FUND AND AUTHORIZING AND DIRECTING THE PREPARATION OF AN INTERLOCAL AGREEMENT IMPLEMENTING EACH SUCH EXEMPTION; REPEALING INCONSISTENT ORDINANCES;PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE. WHEREAS, by Resolution adopted by the City Commission of the City of Ocoee, Florida (the "City") on September 21, 2004, it was determined that one or more blighted areas exist within the City of Ocoee, Florida, and that the rehabilitation, conservation or redeyelopment, or a combination thereof, of such area is necessary in the interest of the public health, safety, morals or welfare of the residents of the City of Ocoee; and WHEREAS, by Ordinance No. 2006-007 enacted by the City Commission on April 18, 2006, the City Commission created the Community Redevelopment Agency of the City of Ocoee, Florida (the "Agency"); and WHEREAS, by Resolution adopted by the City Commission on May 16, 2006, the City Commission adopted a community redevelopment plan (the "Plan") for the community redeyelopment area as fully described in that Resolution and in Exhibit "A" attached hereto and made a part hereof (the "Community Redevelopment Area"); and WHEREAS, in order to plan and implement community redevelopment within the Community Redevelopment Area it is necessary that a redevelopment trust fund be established and created for said area as provided in Section 163.387, Florida Statutes (2005) (the "Act"); and WHEREAS, it is appropriate and reasonable for certain special taxing districts to be exempted from the requirement to make an annual appropriation of "increment revenues" to the redevelopment trust fund being created by this ordinance; and WHEREAS, notice of the City Commission's intention to create a redevelopment trust fund has been published in a local newspaper of general circulation and mailed to all "taxing authorities" (as hereinafter defined) in accordance with Section 163.346, Florida Statutes (2005); NOW, THEREFORE, BE IT ENACTED BY THE CITY COMMISSION OF THE CITY OF OCOEE, FLORIDA, AS FOLLOWS: SECTION 1. The City Commission of the City of Ocoee has the authority to adopt this Ordinance pursuant to Article VIII of the Constitution of the State of Florida and Chapters 163 and 166, Florida Statutes, SECTION 2. There is hereby established and created, in accordance with the provisions of the Act, a Community Redevelopment Trust Fund (the "Fund") for the Community Redevelopment Area, which fund shall be utilized and expended for the purposes of and in accordance with the Plan, including any amendments or modifications thereto, including any "community redevelopment," as that term is defined in Section 163.340(9), Florida Statutes (2005), under the Plan. SECTION 3. The monies to be allocated to and deposited into the Fund shall be used to finance "community redeyelopment" within the Area according to tax increment revenues attributed to the Area, which shall be appropriated by the Agency. The Agency shall utilize the funds and reyenues paid into and earned by the Fund for community redevelopment purposes as provided in the Plan and as permitted by law. The Fund shall exist for the duration of the "community redevelopment" undertaken by the Agency pursuant to the Plan to the extent permitted by the Act as stated in the Plan. Monies shall be held in the Fund by the City, for and on behalf of the Agency, and disbursed from the Fund as provided by the Agency. SECTION 4. There shall be paid into the Fund each year by each of the "taxing authorities," as that term is defined in Section 163.340(2), Florida Statutes (2005) except for those special districts exempted from such requirement, levying ad valorem taxes within the Community Redevelopment Area, a sum equal to ninety-five percent (95%) of the incremental increase in ad valorem taxes levied each year by that taxing authority, as calculated in accordance with Section 6 of this Ordinance and the Act, based on the base tax year established in Section 5 of this Ordinance (such annual sum being hereinafter referred to as the "tax increment"). SECTION 5. The most recent assessment roll used in connection with the taxation of property prior to the effectiye date of this Ordinance shall be the preliminary assessment roll of taxable real property In Orange County, Florida, prepared by the Property Appraiser of Orange County, Florida, and certified pursuant to Section 193.122, Florida Statutes (2005) reflecting valuation of real property for purposes of ad valorem taxation as of January I, 2005 (the "base year value"), and all deposits into the Fund shall be in the amount of tax increment calculated as provided in Section 6 hereof based upon increases in valuation of taxable real property from the base year value as reflected on the preliminary assessment roll of taxable real property in the community redevelopment area in the City of Ocoee, Florida, prepared by the Property Appraiser of Orange County, Florida, filed with the Department of Revenue pursuant to Section 193.1142, Florida Statutes (2005). SECTION 6 The tax increment shall be determined and appropriated annually by each taxing authority, and shall be an amount equal to ninety-five percent (95%) of the difference between: (a) That amount of ad valorem taxes levied each year by all taxing authorities on taxable real property located within the geographic boundaries of the Community Redevelopment Area; and (b) That amount of ad valorem taxes which would have been produced by the rate upon which the tax is leyied each year by or for all taxing authorities, upon the total of the assessed yalue of the taxable real property in the Community Redevelopment Area as shown upon the assessment roll used in connection with the taxation of such property by all taxing authorities, prior to the effective date of this Ordinance. SECTION 7. All taxing authorities shall annually appropriate to and cause to be deposited in the Fund the tax increment determined pursuant to the Act and Section 5 of this Ordinance at the beginning of each fiscal year thereof as provided in the Act. The obligation of each taxing authority to annually appropriate the tax increment for deposit in the Fund shall commence immediately upon the effective date of this Ordinance and continue to the extent permitted by the Act so long as any indebtedness pledging "increment revenue" is to be paid and so long as the Plan is in effect. SECTION 8. The fund shall be established and maintained as a separate trust fund by the Agency so that the Fund may be promptly and effectively administered and utilized by the Agency expeditiously and without undue delay for its statutory purpose pursuant to the Plan. SECTION 9. The governing body of the Agency shall be the trustees of the Fund and shall be responsible for the receipt, custody, disbursement, accountability, management, investment and proper application of all monies paid into the Fund. SECTION 10. Any and all ordinances or resolutions or parts of ordinances or resolutions in conflict herewith are hereby repealed. SECTION 11. If any section, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held to be inyalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto. SECTION 12. The Clerk of the City of Ocoee, Florida, is hereby authorized and directed to send a certified copy of this Ordinance to each of the taxing authorities and to the Property Appraiser of Orange County, Florida. SECTION 13. This Ordinance shall take effect immediately upon its passage and adoption. PASSED AND DULY ADOPTED this day of , 2006. APPROVED: ATTEST: CITY OF OCOE E, FLORIDA Beth Eikenberry, City Clerk S. Scott Vandergrift, Mayor (SEAL) ADVERTISED ,2006 READ FIRST TIME , 2006 READ SECOND TIME AND ADOPTED , 2006 UNDER AGENDA ITEM NO. FOR USE AND RELIANCE ONLY BY THE CITY OF OCOEE, FLORIDA APPROVED AS TO FORM AND LEGALITY, this day of , 2006 FOLEY & LARDNER, LLP BY: CITY ATTORNEY