§ 24-38. Miami-Dade Stormwater Compensation Trust Fund.

(1)

The Stormwater Compensation Trust Fund is hereby created for use in land acquisition and constructing, managing, operating or maintaining stormwater management areas within the Bird Drive Everglades Wetland Basin, and Basin B and the North Trail Basin. The Finance Director is hereby authorized and directed to establish the Stormwater Compensation Trust Fund and to receive and disburse monies in accordance with the provisions of this section.

(2)

The Stormwater Compensation Trust Fund shall receive monies from the following sources:

(a)

All revenues collected by the Department pursuant to Section 24-48.2(I)(B)(1)(h) of the Code of Miami-Dade County, Florida.

(b)

All monies accepted by Miami-Dade County in the form of federal, state, or other governmental grants, allocations, or appropriations, as well as foundation or private grants and donations that are made for the purposes of acquiring land or constructing, managing, operating or maintaining stormwater management areas.

(c)

Such additional allocations as may be made by the Board of County Commissioners from time to time for the purposes set forth in this section.

(d)

All interest generated from the sources identified in Section 24-38(2)(a), (b) and (c) of the Code of Miami-Dade County, Florida, except where monies received have been otherwise designated or restricted.

(3)

The Stormwater Compensation Trust Fund shall be maintained by the Finance Director for the Board of County Commissioners solely for the purposes set forth herein, in a separate fund of Miami-Dade County, which shall not be commingled with other county funds until disbursed for an authorized purpose pursuant to Section 24-38(4) of the Code of Miami-Dade County, Florida.

(4)

The Director shall only make disbursement from the Stormwater Compensation Trust Fund for the following purposes:

(a)

Acquisition, including by eminent domain, construction, management, operation or maintenance of stormwater management areas within the Bird Drive Everglades Wetland Basin, the North Trail Basin and Basin B as defined in Section 24-5 of the Code of Miami-Dade County, Florida.

(b)

All costs associated with each such acquisition including, but not limited to, appraisals, surveys, title search work, real property taxes, documentary stamps and surtax fees, and other transaction costs.

(c)

Costs of administering the activities enumerated in Section 24-38(4)(a) and (b) of the Code of Miami-Dade County, Florida, shall be funded from the Stormwater Compensation Trust Fund.

(Ord. No. 04-214, §§ 1, 5, 12-2-04; Ord. No. 08-55, § 2, 5-6-08)